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Green Energy is the Modern “Broken Window”
I really enjoyed this article. It's common economic sense, touching on the distinction between wealth (or well-being) and GDP. Something that ought to be widely understood, but unfortunately isn't. I'd caution about jumping to the wrong conclusion, however. The author (Munger) isn't speaking against green energy. There's actually a pretty strong case for "burning down Paris". "Paris", in this case, meaning the energy economy we've built on fossil fuels and all the infrastructure that's grown up around it. Munger is just saying we need to be prudent about it and recognize the true scope of what we're trying to do. And above all, be really cautious about inflated claims of "job creation".
At least that's what I took from the article. As always, "YMMV".
Green Energy is the Modern “Broken Window”
"If my choices are to have wealth but no job, or to have a job but no wealth, I’d rather have the wealth. But we don’t have to choose: we can have both wealth and jobs, if we...
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