“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”

– Henry Hazlitt, “The Lesson,” Economics in One Lesson. (1946, et seq.)

Solyndra’s impending liquidation, replete with 1,100 layoffs and U.S. taxpayer liabilities in excess of a half billion dollars, has put so-called green jobs initiative of the Obama Administration in negative light.

But make no mistake: recent loan guarantees from the U.S. Department of Energy to new solar projects to beat a September 30th funding cutoff is business-as-usual as the foes of oil, gas, and coal desperately seek business traction for an uneconomic energy.

From Climate Alarmism to ‘Green’ Jobs

With unemployment on the rise and new jobs scarce, politicians are keen to create employment, at least the visible kind that they can sum up for the public.…

Military leaders are under pressure to not disrupt White House green energy policies even while green energy technology is disrupting our navigation aids and impairing U.S. national security.

Washington has a track record of muzzling military testimony to protect its pet policies and political friends. Last week, Air Force Gen. William Shelton admitted he was pressured by the administration to change his testimony regarding LightSquared’s network and its adverse impact on military space-based navigation systems. We applaud Shelton for not bowing to the pressure.

But the military has not been honest about the effect wind turbine technology has on our national radar systems.

The fact is that our air space has been made less safe by turbines and our national security compromised because of a reckless policy of siting wind towers within 50-miles of radar installations. …

[Editor note: Mr. Epstein, a new Principal at MasterResource, is Founder of the Center for Industrial Progress. Part II of this post is here.]

In the wake of two recessions following two fleeting, largely service-sector bubbles—the dot-com bubble and the housing/financial bubble—America’s intellectual and political leaders are championing the need for industrial progress.

The ubiquitous Thomas L. Friedman takes on the subject of industrial progress in his latest book, That Used to Be Us, coauthored by political scientist Michael Mandelbaum. The book begins by describing a China full of fast trains, stupendous buildings, and an aura of dynamism—and contrasting it to an America in which repairing a subway is a multi-year project. Such images resonate with readers and voters, who wonder with frustration why so much industrial innovation, production, and job-creation is happening overseas rather than in America.…

Hadrian, the third of the “five good emperors” of Rome, ruled from 117 to 138 in a time of consolidation of the Roman Empire.  Best known for building Hadrian’s Wall, which marked the northern most reach of the Roman Empire, his policy focus was securing the Empire by leveraging its strengths rather than overextending its reach. Hadrian had a disciplined attention to detail and focused on the infrastructure needed not only to defend the Empire’s territory but leverage its resource potential and revenue growth. 

Today’s economy is marked by uncertainty and volatility at home and abroad. This uncertainty is causing businesses to hoard cash—at last estimate about $1.4 trillion worth.

We have a huge federal deficit, a broken housing situation, and looming costs for unsustainable entitlement programs promised for generations by spend-now, pay-later politicians. …