This morning's WSJ includes "5 Technologies That Could Change Everything." Yesterday;s LA Times included "He's light-years away from EU's bright idea ... Taking a dim view of the incandescent ban, a German scrambles to snag a lifetime bulb supply. He's not alone."
It's quite plausible that we will soon look back at today's Doomsday forecasts with the same bemusement that we attach to all the previous ones that now look so silly. But it's an old story. There is a steady demand for hand-wringing and a ready supply of policies that will soon be obsolete. The "green" policies that will be put in place in the developed countries will marginal (except on the cost side) and probably redundant and unnecessary. The developing countries will burn most of the coal. And for some years, they will use the power to fuel the cheap bulbs.
Julian Simon, wherever you are, are you laughing or crying?
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A blog exploring the intersection of economic thinking and urban planning/real estate development and related big-think themes.
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