1889 Institute: The Economic Fantasizing of the Green Advocates

The Economic Fantasizing of the Green Advocates By Byron Schlomach In a confirmation hearing for President Biden’s Secretary of Transportation, Pete Buttigieg, Senator Ted Cruz complained about Biden killing the Keystone XL pipeline, eliminating 11,000 jobs. Buttigieg responded that “Biden’s climate agenda will create a net increase in jobs.” Buttigieg’s response, commonly given by climate activists when challenged on jobs, is pure, unmitigated, economic balderdash. New technology, from steam engines to robotics, has generally freed resources to expand opportunities and increase standards of living. Green advocates presume, therefore, that any new technology will do the same. But there is a key feature of innovations that expand opportunity and jobs. They make production cheaper. True growth-inducing innovations, like steam, the Bessemer process for producing steel, and refining and burning fossil fuels for energy are always a chance to lower costs. Consequently, they are adopted voluntarily. There is never any need for governments to force, bribe (through grants and subsidies), or tax advantage companies into adopting innovations that are truly beneficial – that is, that lower costs and produce a higher standard of living on top of more jobs for us all. Read more » by Jamison Faught - April 24, 2021 at 10:19AM

1889 Institute: The Economic Fantasizing of the Green Advocates Click the title to read the entire article at Muskogee Politico