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36 more reasons why industrial policy is a bad idea



Heritage has done us all a favor by compiling a list of 36 "green energy" companies that have received federal support and have either gone bankrupt or are laying off workers and headed for bankruptcy. Even with millions and billions of federal help, these companies could not compete in the real world, because green energy is still way too expensive to compete with existing forms of energy, and politicians are foolish if they think that federal largesse is the only way to change this reality. (I won't even get into the fact that most of these same companies were big contributors to Obama's campaign, since crony capitalism and corruption are to be expected whenever politicians—of whatever stripe—shower taxpayer money on favored industries.) Throwing money down the "green" drain just takes away money from more promising technologies and more promising ways to improve our lives through gains in efficiency and productivity. When someone finally does come up with a "green" energy technology that really makes economic sense, the world's capital markets will be there, ready and willing to provide all the funds necessary.

See the list here.

HT: Instapundit, my choice for MVB (most valuable blog)

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