Worth A Look

Washington’s Knack for Picking Losers: Former Obama adviser Larry Summers warned the administration against federal loan guarantees to Solyndra, writing in a 2009 email that ‘the government is a crappy venture capitalist.’

Like the mythical monster Hydra—who grew two heads every time Hercules cut one off—President Obama, in both his State of the Union address and his new budget, has defiantly doubled down on his brand of industrial policy, the usually ill-advised attempt by governments to promote particular industries, companies and technologies at the expense of broad, evenhanded competition.

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Are We Sliding Into A Tyranny Of Good Intentions?

“‘I am of two minds about democracy,’ he writes, ‘and so is everyone else. We all agree that it is the sovereign remedy for corruption, war and poverty in the Third World. We would certainly tolerate no other system in our own country. Yet most people are disenchanted with the way it works. One reason is that our rulers now manage so much of our lives that they cannot help but do it badly. They have overreached. Blunder follows blunder.'”

High Fashion versus the Private Car: Alternative lifestyles will always be trendy, but the car is mainstream for good reasons

It’s so trendy to deride the private car today that it often features in urban planning only as a necessary evil to be tolerated at best. Public policy should be more enthusiastic about what private motorised transport has done for people, and in particular how driverless cars, electric cars, and road pricing can alleviate the concerns that some people have about them.

Unfreezing Arctic Assets: A bloc of countries above the 45th parallel is poised to dominate the next century. Welcome to the New North.

“Much of the planet’s northern quarter of latitude, including the Arctic, is poised to undergo tremendous transformation over the next century. As a booming population increases the demand for the Earth’s natural resources, and as lands closer to the equator face the prospect of rising water demand, droughts and other likely changes, the prominence of northern countries will rise along with their projected milder winters.”

Clunkers,’ A Classic Government Folly

“In the market for a used car? Good luck finding a bargain: The price of “pre-owned’’ vehicles has climbed considerably over the past year. According to Edmunds.com, a website for car buyers, a three-year-old automobile today will set you back, on average, close to $20,000.”