11/03/2012

Externalities

The key short-run issue is government policy with respect to energy. The programs called by environmentalists combine support for "alternative" sources of energy such as wind and solar, taxation of fossil fuels to reduce their use, and raising all possible obstacles to the use of nuclear power.

Energy accounting has great intellectual charms but of course if society were to follow an energy-economizing rule, we could not have modern life,

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