In the area of ESG, the central planning/state-driven switch from gas cars to EVs will be quite the thing to watch. First, the impacts on climate change -- the stated reason for various States jumping in -- will be negligble to somewhat discernible at best. Second, the policies will cut lots and lots and lots of jobs. Pretty easy to make metal box and stick a battery in it. Third, it will empower China as batteries are the only technology that matters for EV and, well, China currently controls those resources.
So, to sum up -- a policy that won't really work for its intended purpose, but will put lots of people out of work and empower China, is pretty much a spot on ESG/Prog policy.
There's a reason why we usually let markets reorganize from the bottom up rather than with Stalinist central planning. But, hey, maybe THIS time it will finally work
So, to sum up -- a policy that won't really work for its intended purpose, but will put lots of people out of work and empower China, is pretty much a spot on ESG/Prog policy.
There's a reason why we usually let markets reorganize from the bottom up rather than with Stalinist central planning. But, hey, maybe THIS time it will finally work
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