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Posts Tagged ‘GREEN NEW DEAL’

Watch: Inventor of Green New Deal Renounces Eco-Lunacy, Goes Nuclear

Posted by M. C. on October 10, 2019

The first you’re all familiar with: unreliable electricity means you always have to have fossil fuel power plants backing up when the sun doesn’t shine or the wind doesn’t blow.

But this is the kind of info I have been waiting to see…

It takes 150 times more land to get the same amount of electricity from a solar farm as from a nuclear plant; 17 times more materials are required for solar than for nuclear; and if you just total up all the used solar panel waste compared with nuclear, solar actually creates 300 times more toxic waste than nuclear.

https://www.breitbart.com/politics/2019/10/10/environmentalist-shellenberger-go-nuclear-save-the-planet/

by James Delingpole

Before we go to the main event and meet the only Greenie talking sense on climate change and the environment, let’s first catch up with the latest in Climate Stupid…

Extinction Rebellion protestors in Germany have been caught green-handed powering their camp with a ‘planet-destroying’ diesel generator – which they tried to hide with wooden pallets.

The BBC has been caught lying again about climate change, this time with a cock and bull story about rising sea levels displacing families in Vietnam’s Mekong Delta. (The real reason is soil subsidence: but that doesn’t suit the climate change narrative, obviously)

National Oceanic and Atmospheric Administration (NOAA) has been caught data-tampering again to make ‘global warming’ look more ‘real’ and scary than it actually is.

Disgraced climate ‘scientist’, fake Nobel prizewinner and failed litigant Michael Mann has been caught trying to erase from history the well-documented Medieval Warm Period (MWP) using ‘dubious, revisionist temperature data.’ Why are Mann and his co-conspirator Katharine Hayhoe so keen to ditch the MWP? Because between 900 AD and 1200 AD, the world was at least as warm – if not warmer – than it is today. Yet there were no 4 x 4s or planes or factories ‘pumping out CO2’ to make this happen – so gosh, what might this tell us about Anthropogenic Global Warming theory?

The BBC’s only politically unbiased interviewer Andrew Neil has totally owned an Extinction Rebellion activist called Zion Lights. (He/she was presumably named after some kind of super potent indica/sativa hybrid you buy on the dark web). Having been Andrew Neiled myself, I do have a tiny smidgen of sympathy for Zion Lights. Except then again I totally don’t because I’m right on the No Deal Brexit thing whereas Zion Lights is totally wrong on her/his/its entire belief system.

Extinction Rebellion crusties are currently trying to close down London City Airport. If you listened to Nick Robinson’s questions on the Today programme this morning — my wife forced me to listen as I drove her to work because she hates me and because she wanted me to see just how much worse the BBC has got since I stopped listening to its drivel a year ago — you would have got the impression that this is perfectly legit and that London City’s Airport’s management really should be in the business of having to justify their core business (viz being an airport, where aeroplanes take off and land, with business people and holidaymakers inside) to tone deaf, left-biased BBC reporters.

The police have made some arrests, including of some whiny harpie who screeched ‘You’re hurting me’ as she was dragged off. “Not enough,” I imagine one or two air passengers are muttering this morning…

What does all this tell us about climate change? Nothing that we didn’t know already: that it’s a bogus cause, invented by dodgy, activist scientists, propped up by mainstream media lies and hysteria and promoted by soap-dodging loons who are not only naive and ill-informed but outrageously hypocritical in the way that they want to end Western Civilisation but still somehow keep their mobile phones powered…

This is why I was so pleased to meet just about the world’s only sensible Greenie, Mike Shellenberger. Shellenberger used to be a deep green activist – pushing heavily for renewables – but then saw the light.

He still cares about nature very much. But he thinks greenies like Extinction Rebellion are doing more harm than good.

I asked him what the red-pill moment was that made him see the light.

“So in the early 2000s I was the co-founder of our original Green New Deal. We called it the New Apollo Project. It was for a $300 billion investment in renewables. And we succeeded. We got President Obama, he did about $150 billion in renewables between 2007 and 2015 but right away we started running into big problems.

The first you’re all familiar with: unreliable electricity means you always have to have fossil fuel power plants backing up when the sun doesn’t shine or the wind doesn’t blow. But the other issue, which had a bigger impact on my heart, is the environmental impact of all those solar and wind farms.

So you started having local conservationists raising concerns about the impacts of wind farms on bird and bat species; about the impact of solar farms on our desert tortoise. So you started having environmental consequences of renewables. I started running the numbers. It takes 150 times more land to get the same amount of electricity from a solar farm as from a nuclear plant; 17 times more materials are required for solar than for nuclear; and if you just total up all the used solar panel waste compared with nuclear, solar actually creates 300 times more toxic waste than nuclear.

For me it was like, if I care about the environment, why are we not doing more nuclear power? Even if you don’t care about climate change. Nuclear has the smallest environmental footprint because it has the highest energy density. So for me my red pill moment was realising that energy density determines environmental impact. A single coke can of uranium provides enough energy for my entire life. Whereas it would require many train cars full of coal, oil or gas; many more of renewables. So that for me was what made me change my mind.”

I was very impressed by Shellenberger (who, incidentally, may soon be running for Governor of California). You can hear more from him on my Delingpod podcast and vidcast next Thursday (details here).

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truth-goes-to-die

 

 

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Watch: AOC Dumbfounded as Town Hall Attendee Says We Must ‘Eat the Babies’ to Save Planet

Posted by M. C. on October 4, 2019

Another chapter in the “You Can’t Make This Stuff Up” story.

Insignificant yet amusing.

https://www.breitbart.com/politics/2019/10/03/aoc-dumbfounded-town-hall-must-eat-babies-save-planet/

by

Rep. Alexandria Ocasio-Cortez (D-NY) responded to a woman at her town hall who proclaimed that we must “eat the babies” to save the world from climate change, and she urged everyone to “treat the situation compassionately.”

A clip emerged Thursday evening of Ocasio-Cortez’s town hall at the Queens Public Library, featuring a flustered woman who proclaimed that we need to “eat the babies” in order to save the planet from climate change.

“We are not going to be here for much longer because of the climate crisis,” the woman said. “We only have a few months left!”

The woman told the socialist “Squad” member that she loves her support for the Green New Deal but lamented that it is “not getting rid of fossil fuel; it’s not going to solve the problem fast enough.”

“A Swedish professor [said] we can eat dead people, but that’s not fast enough. So I think your next campaign slogan has to be this: ‘We got to start eating babies! We don’t have enough time! There is too much CO2,” the woman proclaimed.

“All of you … you are a pollutant, too much CO2,” she continued. “We have to start now, please, you are so great.”

“I’m so happy that you really are supporting New Green Deal, but it’s not enough, you know. Even if we would bomb Russia, we still have too many people,” she added. “Too much pollution, so we have to get rid of the babies! That’s a big problem. We need to eat the babies!”

“We need to treat the climate crisis with the urgency that it does present,” Ocasio-Cortez told the distressed woman.

“Luckily we have more than a few months. We do need to hit net zero in several years,” she added.

Ocasio-Cortez also responded to the clip on Twitter, reprimanding right-wing individuals for “mocking” the woman. She also used the incident to plug Medicare for All.

“We had a fabulous town hall tonight & I’ll be highlighting some moments from it,” Ocasio-Cortez tweeted. “At one point I was concerned there was a woman in crisis & want to ensure we treat the situation compassionately.”

“Let’s not mock or make a spectacle. &let’s work on Medicare for All!” she plugged.

“This person may have been suffering from a mental condition and it’s not okay that the right-wing is mocking her and potentially make her condition or crisis worse,” Ocasio-Cortez added. “Be a decent human being and knock it off”:

It remains unclear if the woman was a genuine Ocasio-Cortez supporter or someone spoofing the socialist lawmaker.

President Donald Trump and Donald Trump Jr. reacted to the clip on Twitter:

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Alexandria Ocasio-Cortez's Green New Deal is a bird ...

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Club Of Rome Supports the Global Student Climate Protests – Coercion Code – “Dark Times are upon us”

Posted by M. C. on September 20, 2019

Founded in 1968, the Club of Rome was the original elite group who created crisis-mode global cooling and then global warming.

https://coercioncode.com/2019/03/17/club-of-rome-supports-the-global-student-climate-protests/

The venerable global elite group, The Club of Rome, has tipped its hand by gushing over the Sunrise Movement and the Green New Deal.

Founded in 1968, the Club of Rome was the original elite group who created crisis-mode global cooling and then global warming. They produced the infamous treatise called “The Limits to Growth” that was positioned as “A Report for The Club of Rome’s Project on the Predicament of Mankind.” Limits to Growth proposed a resource-based economic system in the likeness of Technocracy, and called for economic equilibrium between population and available resources.

When the Trilateral Commission was co-founded in 1973 by David Rockefeller and Zbigniew Brzezinski to establish a “New International Economic Order”, Club of Rome members intermingled with the Bilderberg group and members of the Commission.

The totality of the Green New Deal spectacle in America is precisely in line with the global elite’s plan to force Sustainable Development upon the entire world. In the Club’s statement below, they state “We know the facts. We have the solutions. We just need the political will.” The purpose of Green New Deal movement is specifically to develop the “political will” to implement their “solutions”.

The recent tweet that spilled the beans on Club of Rome’s support is pictured below.

Again the protests took place on the 15 March – on the Ides of March

 

The organization sponsoring these youth protests is the Sunrise Movement. Their website states,

We’re building an army of young people to make climate change an urgent priority across America, end the corrupting influence of fossil fuel executives on our politics, and elect leaders who stand up for the health and wellbeing of all people.

We are ordinary young people who are scared about what the climate crisis means for the people and places we love. We are gathering in classrooms, living rooms, and worship halls across the country. Everyone has a role to play. Public opinion is already with us – if we unite by the millions we can turn this into political power and reclaim our democracy.

These students may think that they are “ordinary young people” but they are completely unaware that they are being shamefully manipulated and orchestrated by the global elite to drive the world into Sustainable Development, aka Technocracy…

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Government Won’t Save Us From “Woke” Corporations | Mises Wire

Posted by M. C. on September 7, 2019

Many of those who avail themselves of Zuckerberg’s invention hold the same political and cultural beliefs… Perhaps most users of these internet conveniences welcome P.C. intolerance.

https://mises.org/wire/government-wont-save-us-woke-corporations

From the shoes you wear to the ice cream you eat, politics has found a way to sneak into some of the most mundane aspects of our lives. The new trend of “Woke Capital,” where firms are actively promoting social justice causes, has had many free-marketers scratching their heads at how corporate America has hopped on board this wave of Progressivism.

Take for example the ice cream company Ben & Jerry’s. Ben & Jerry’s has made it a point to virtue signal about the latest leftist hobby horses. It made sure to showcase its progressive credentials through its launch of a resistance-themed ice cream flavor and even went as far as to endorse the Green New Deal.

Woke Capital was also on full display when Nike decided to pull its Betsy Ross flag line of shoes thanks to pressure from former NFL player Colin Kaepernick. Now an activist, Kaepernick viewed the Betsy Ross flag as an image of racism due to its creation during the American Revolution when slavery was still present.

A similar trend of political activism gone corporate has popped up when dealing with wedge issues such as gun rights. Companies such as Salesforce recently stopped doing business with organizations that sell semi-automatic rifles and firearms accessories. This decision is part of a larger wave off corporate gun control taking place since the 2018 Parkland shooting.

Corporations are Following in the State’s Footsteps

The threat of state action has hamstrung many forms of private associations and has seeped into the culture as well. The “therapeutic managerial state” we see today functions as a public-private partnership where political correctness culture is pushed as a means of re-socializing the public. Corporate actors are now well aware of this and work to one-up their PC overlords in the entrenched DC bureaucracy by trying to be “woke” in the boardroom.

Big Tech is a great example. Last year’s social media purges of political personalities such as Alex Jones demonstrated this new form of corporate policing. However, the blunt force of the state still lurked in the background as the late Justin Raimondo previously noted during the Jones deplatforming saga:

All this wasn’t good enough for Sen. Chris Murphy (D-Connecticut), who demanded to know if the plan was to only take down “one web site.” No doubt he has a whole list of sites he’d like to take down. Even more ominously, it was revealed that a direct threat had been made to these companies by Sen. Mark Warner (D-Virginia), who sent out a memo listing all the ways the government could crack down on Big Data if they refuse to go along with cleansing the internet of “divisive” material.

Even though no direct legislative action came out of Senator Murphy’s threats, many companies are well aware of the state’s power to modify private behavior. The administrative state’s willingness to put the clamps on allegedly discriminatory activities is well-documented. So, these companies have every incentive to be on their best behavior, and in some cases go the extra mile by being “woke” to avoid bureaucratic persecution.

Changing Corporate Culture?

It is intriguing that there hasn’t been much pushback against corporate virtue signaling from consumers. This indicates some degree of cultural tolerance from a large portion of the population. Just think about it, when’s the last time a mass conservative boycott of a company enacting “woke” policies led to its bankruptcy?

Bill Anderson’s point about how “the fundamentals of private property, prices, and profits and losses” cannot be ignored in any business operation is valid, but it overlooks one trend that has taken place during the last few decades — how much the American consumer base has been re-socialized by the managerial state and its many indoctrination mechanisms.

Paul Gottfried makes an interesting observation about both corporate titans and consumers in the twenty-first century when it relates to deplatforming:

Many of those who avail themselves of Zuckerberg’s invention hold the same political and cultural beliefs. I’m not even sure that the decisions made by Facebook and Google here and in Western Europe to kick political conservatives off their sites is a bad business practice. Perhaps most users of these internet conveniences welcome P.C. intolerance.

Gottfried also explains how entrepreneurs during the Gilded Age like Cornelius Vanderbilt, John D. Rockefeller, and Andrew Carnegie generally held more traditional views and “were devout Protestants, and they lived in societies in which both rich and poor were expected to conform to certain bourgeois proprieties that hardly exist anymore.” In sum, there is not enough collective opposition to match the “woke” Corporate America of the twenty-first century nor the activist groups constantly pressing for more diversity and inclusiveness in the workplace.

What we see now is both corporate leadership that is either culturally receptive to social justice culture and a more apathetic consumer base that does not care about the politics of these companies enough to actually revolt against them via the pocketbook.

Some rightwing politicians have suggested additional government regulation in retaliation against these firms. But for those more inclined toward laissez-faire, consumer action and robust civil society are more important than ever. Instead of exclusively focusing on elections, free-marketers should shift their energy toward business and cultural endeavors. In these areas, there are more level playing fields. The silver lining of this new Woke Capital trend is that these kinds of battles will incentivize free-market advocates to put more skin in the game and actually build viable alternatives to current corporate structures.

For example, Amazon shareholders nixed several employee-led proposals which included a plan to tackle climate change. Similarly, Google shareholders rejected a plan to link executive compensation to diversity goals. Through shareholder pressure, those of free-market inclinations can make their voices heard. More boardroom, less ballot box.

The last thing we should do in these situations is to bring the government in to “normalize” business conduct. If anything, the last century has demonstrated that government stepping into private affairs has thrown everything out of whack. As American society becomes more polarized and the government maintains its automated growth, alternative strategies that promote political decentralization are crucial.

 

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Should the New York Times sack Sarah Jeong over her racist ...

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Why Are Progressives so Bad at Governing? | Mises Wire

Posted by M. C. on June 21, 2019

Not only does de Blasio call for an end to private property and the total transformation of the economy via the “Green New Deal,” but he also has pushed “egalitarian” initiatives like ending charter schools in New York. (The fact that charter schools perform better than their regular public-school counterparts galls de Blasio and he believes they must be stopped.)

https://mises.org/wire/why-are-progressives-so-bad-governing-0

In the aftermath of Hurricane Katrina, Paul Krugman declared that the Bush administration failed in its response to the flooding of New Orleans because the administration consisted of people, according to Krugman, who didn’t “believe in government.” One cannot say that about progressives who truly believe in government, and believe in unlimited government at that. Yet, it also is clear that when in power — and especially when they face no real opposition — progressives generally govern very badly. Why this is so — in direct contradiction to Krugman’s stated belief — requires an examination of the progressive mindset, something Krugman probably is intellectually and emotionally incapable of doing.

Mayor Bill de Blasio: New York’s Progressive Disaster

The first thing to understand about progressives in government is that they have a much different view of “progress” than most other people. For example, even though whatever positive changes New York made in the 1990s and 2000s has been waning during the terms of Mayor Bill de Blasio, de Blasio believes that future “progress” now must come in the form of something other than the decline of crime rates and business growth. Instead, de Blasio, who wears his socialist cap proudly declares that the real threat to New York’s future is private property. He says:

Our legal system is structured to favor private property, (but) people would like to have the city government be able to determine which building goes where, how high it will be, who gets to live in it, what the rent will be. If I had my druthers, the city government would determine every single plot of land, how development would proceed. And there would be very stringent requirements around income levels and rents. That’s a world I’d love to see.

Any competent (or even incompetent, for that matter) economist can tell us how such a scenario plays out in the long run, and the economic chaos that was the former Soviet Union stands as Exhibit A, while the New York of the 1970s and the 1980s is Exhibit B. Yes, even in the face of hardcore evidence against his position, de Blasio stands firm. In fact, an entire new wave of politicians in this country calling themselves “progressives” are trying to fashion a “new” economy, one based upon a “Green New Deal,” and other massive interventions into private economic activity. That the experience of socialism never matches its utopian rhetoric seems not to have changed a mind among this new generation of progressives.

If de Blasio is an example of modern progressivism (he even took his honeymoon in Cuba, taking a cue from Bernie Sanders who honeymooned in the USSR shortly before it collapsed), then his words and actions shed light on what progressives consider to be “proper” governance. Not only does de Blasio call for an end to private property and the total transformation of the economy via the “Green New Deal,” but he also has pushed “egalitarian” initiatives like ending charter schools in New York. (The fact that charter schools perform better than their regular public-school counterparts galls de Blasio and he believes they must be stopped.)… Read the rest of this entry »

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Ocasio-Cortez: Avoid ‘Colonial’ Produce Like Cauliflower in Communities

Posted by M. C. on May 21, 2019

How bad can this get?

https://www.breitbart.com/politics/2019/05/21/ocasio-cortez-colonial-cauliflower-in-community-gardens-makes-minorities-avoid-environmentalism/

Rep. Alexandria Ocasio-Cortez (D-NY) declared on Sunday that the Green New Deal will reverse purported “colonial” attitudes associated with growing vegetables in community gardens.

“What I love too is growing plants that are culturally familiar to the community. It’s so important,” the 29-year-old freshman congresswoman said while filming herself strolling through a community garden in the Bronx.

“That’s really how you do it right,” the self-described Democratic- socialist continued in a follow-up video. That is such a core component of the Green New Deal is having all of these projects make sense in a cultural context, and it’s an area that we get the most pushback on because people say, ‘Why do you need to do that? That’s too hard.’”

Ocasio-Cortez then said that growing cauliflower in community gardens represents a “colonial approach,” turning off people of color from embracing environmentalism.

“But when you really think about it — when someone says that it’s ‘too hard’ to do a green space that grows Yucca instead of, I don’t know, cauliflower or something — what you’re doing is that you’re taking a colonial approach to environmentalism, and that is why a lot of communities of color get resistant to certain environmentalist movements because they come with the colonial lens on them,” she argued…

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An Ocasio-Cortex sampler | Catallaxy Files

Cauliflower is Racist.

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EconomicPolicyJournal.com: NYC Mayor de Blasio Goes Full Idiot: ‘We Are Going to Ban’ Glass and Steel Skyscrapers

Posted by M. C. on May 9, 2019

De Blasio as socialist engineer.

He doesn’t mention what replaces steel. Plastic, graphite?

Windowless hives. Caves of Steel.

We know what Ayn Rand would said about government directing Architecture.

https://www.economicpolicyjournal.com/2019/04/nyc-mayor-de-blasio-goes-full-idiot-we.html

NYC Mayor de Blasio Goes Full Idiot: ‘We Are Going to Ban’ Glass and Steel Skyscrapers

New York Mayor Bill de Blasio

New York Mayor Bill de Blasio said on MSNBC Monday morning his city will ban “inefficient” steel and glass skyscrapers as part of their Green New Deal.

This is hardcore Climate Fearmonger Malthusian idiocy.

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SJW

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Ocasio-Cortez’s Selective Memory on the New Deal | Mises Wire

Posted by M. C. on April 12, 2019

https://mises.org/wire/ocasio-cortezs-selective-memory-new-deal

Alexandria Ocasio-Cortez never misses the opportunity to bash capitalism.

At the 2019 South by Southwest festival, the Congresswoman derided capitalism, describing it as “irredeemable.” She says that the U.S. is currently facing the consequences of “putting profits over everything else in our society.” Curiously, the freshmen congresswoman pivoted her rant towards a critique of the New Deal.

How could such a staunch leftist like Ocasio-Cortez — who fashioned her pet legislation as the “Green New Deal” — criticize its 20th-century predecessor? She was able to do so by turning this discussion into a matter of race.

In her view, Roosevelt’s New Deal cut African Americans a raw deal:

“The New Deal was an extremely economically racist policy that drew little red lines around black and brown communities and it invested in white America.”

Ocasio-Cortez continued expanding on the New Deal’s harmful effects: “It allowed white Americans access to home loans that black Americans didn’t have access to, giving them access to the greatest source of intergenerational wealth.”

Misinterpreting the New Deal’s Racist History

The congresswoman is correct about the New Deal’s racist policies, albeit from an observational standpoint. I wrote about this previously, detailing how the federal government promoted segregated housing during the New Deal at the African-American community’s expense.

However, Ocasio-Cortez’s talk about the New Deal flagrantly omits other government interventions that clearly affected racial minorities in a negative way. The Wagner Act of 1935 — which established labor-union monopolies — gave incumbent unions tremendous power to exclude low-wage workers. During this period, union heavyweights discriminated against black workers in order to keep wages artificially high for white workers.

Similarly, the National Industrial Recovery Act of 1933 allowed the executive branch to create industrial cartels to restrict output and enact minimum-wage policies. This resulted in approximately 500,000 blacks being pushed out of the labor market thanks to high, non-market wages.

Despite these overlooked aspects of the New Deal, Ocasio-Cortez continues to race hustle and thinks that more government intervention will somehow “correct” past injustices that the government itself created.

How Limited Government Made African Americans Prosperous

In contrast to the New Deal, markets have historically helped racial minorities. It was during the Gilded Age that the African-American community was able to first establish itself as an economic force. This was an era when there was no welfare state, no federal tax maze, nor an alphabet soup of bureaucracy to impede capital accumulation and business creation.

During this time, African American civil society was at its peak. David Beito’s From Mutual Aid to Welfare State was a seminal work in demonstrating how the African-American community thrived without any form of government assistance before the New Deal. Civic organizations like the Independent Order of Saint Luke and the United Order of True Reformers “specialized initially in sickness and burial insurance,” and became leading institutions in African-American civil society.

The Independent Order of Saint Luke stood out for its entrepreneurial endeavors and ended up establishing the Saint Luke Penny Savings Bank of Richmond, which had the honor of having Maggie L. Walker as the first, black female bank president in American history…

Be seeing youmlk

 

 

 

 

 

 

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Name ONE TIME a government program accomplished its goal | The Daily Bell

Posted by M. C. on April 10, 2019

How these politicians intend to pay for their social programs is actually beside the point. Even when they have the money to pay for their programs, they can’t execute.

https://www.thedailybell.com/all-articles/news-analysis/name-one-time-a-government-program-accomplished-its-goal/

by Joe Jarvis

Illinois has the worst credit rating of any state.

It has $8 billion in outstanding bills and a $3.2 billion deficit in just next year’s budget.

But the worst part is the $250 billion they need to pay their state pensions…

When you or I have debt, the first thing we have to do is tighten the belt. We save money and cut expenses.

But imagine if instead you could just waltz up to your boss and demand a raise. And not because you’re doing more work, or because you hit a home-run with last quarter’s goals… just because you got yourself into debt.

If Illinois was an employee, they would have been fired by now. They haven’t hit any of their goals and continuously fail to deliver on the promises they have made.

But the taxpayers will once again face tax increases in order to pay for more government, more promises, and more mismanaged policy.

The Governor recently proposed a graduated income tax to raise rates on the highest earners.

This will bring in more revenue they say… when have they been wrong before?

Meanwhile, 137,000 net residents have left the state since 2013.

Somehow I’m guessing their estimates for revenue are going to be just as wrong as their pension and budgeting calculations.

Never do governments even remotely consider that the solution is to spend less.

And never does anyone ask, what about the outcome?

Why would more money solve these problems when the government has spent so much money already, and still failed to execute on their promises?

It’s the same in business. We just went through a decade of low-interest rates, which meant easy money for stupid investments. People sunk money into terrible ideas that never got executed, and destroyed value.

The difference is it destroyed value for a very select group of people: investors and business owners.

And those people made the choice to put their own money into those businesses.

Raising the money is the easy part. Show me ONE TIME a government program did what it said it was going to do.

The war on drugs, Great Society to end poverty, the war on crime, the war on terrorism…

And yet the newest crop of socialist politicians say right up front that results don’t matter.

When it came to fighting for a cleaner environment, Alexandra Ocasio-Cortez said:

The power is in the person who is trying, regardless of the success. If you’re trying, you’ve got all the power, you’re driving the agenda…

Like, I just introduced Green New Deal… and it’s creating all this conversation, why? Because no one else has even tried…

 

 

 

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Capital is a Mystery to Alexandria Ocasio-Cortez | Mises Wire

Posted by M. C. on April 4, 2019

…the problem in underdeveloped countries is that “most people cannot participate in an expanded market because they do not have access to a legal property rights system that represents their assets in a manner that makes them widely transferable and fungible, that allows them to be encumbered and permits their owners to be held accountable.”

https://mises.org/wire/capital-mystery-alexandria-ocasio-cortez

We all know that Alexandria Ocasio-Cortez is dominating the political news with her demands for socializing the economy. Bob Murphy has explained that her Green New Deal “makes no sense on economic grounds” and even for Keynesians it “ would be nonsensical to implement such a program today.” Given the inanity of the Green New Deal, I would like to propose a course of study for Ocasio-Cortez.

While Ocasio-Cortez has a degree in economics, she apparently never learned the lessons stressed by Hernando de Soto in his The Mystery of Capital. The country would be better off if AOC and politicians of all stripes understood and took to heart de Soto’s warnings.

“People who have adapted every other Western invention, from the paper clip to the nuclear reactor, have not been able to produce sufficient capital to make their domestic capitalism work.” This, according to de Soto, is the mystery of capital.

De Soto argues that “capital, the most essential component of Western economic advance, is the one that has received the least attention” and shows that the major barrier to the production of capital is the lack of private property rights in struggling countries. Socialism, particularly the extreme proposals from Ocasio-Cortez, undermine and in some cases completely eliminate private property. De Soto provides us with a mainly historical argument showing that adopting socialist proposals will destroy the capital producing engine that powers the U.S. economy.

Westerners, de Soto points out, take this capital producing “mechanism so completely for granted that they have lost all awareness of its existence.”

De Soto’s fear is that if we don’t understand the importance of private property in producing the capital necessary for our increasing standards of living then “the West might damage the source of its own strength. Being clear about the source of capital will also prepare the West to protect itself and the rest of the world as soon as the prosperity of the moment yields to the crisis that is sure to come.”

The Green New Deal could be such a crisis…

De Soto focuses on the lack of capital in poorer countries. On this issue, I recommend Mises’ “The Plight of the Underdeveloped Nations.”2 Here, Mises provides us with an excellent analysis of the institutional problems in less developed countries. The countries are underdeveloped because “they had been slow in developing those ideological and institutional conditions which are the indispensable prerequisite of large scale capital accumulation.” What should underdeveloped nations do to “eradicate penury”? “They must resort to laissez faire; they must remove all obstacles fettering the spirit of enterprise and stunting domestic capital accumulation and the inflow of capital from abroad.”

If Ocasio Cortez and other socialists understood the lessons of de Soto and Mises they might be reluctant to support policies that destroy the basis of a thriving economy, private property rights and capital accumulation.

Be seeing you

AOC

 

 

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