Saturday, August 22, 2009

Quote of the Week

Already 20,000 overnight hotel stays that had been reserved for the December United Nations climate summit in Copenhagen have been canceled. Either a lot of people are losing interest -- or they're thinking it will just be too cold.

From an Investors Business Daily editorial nicely exposing the emotionalistic non-facutalism of global-warming alarmists. The pro-growth folk at IBD nicely detail public statements from the environmental lobbies, including St. Al of Gore, as to how they routinely overstate dangers to drum up support for a program that aims to stop economic growth in developed countries on the way to establishing economic egalitarianism for all.

As Baroness Thatcher said some years ago.

1 comment:

Mr. Waldorf said...

The poorer countries believe that if the developed economies suffer, their own economies will improve relatively (or absolutely) speaking. At one level this is true: I can make my country more competitive by hamstringing my competition.

At a bigger level, it is patently false: hamstringing the economy of the large consumer economies eliminates my customers, therefore hurting my country's economy.

Further different economies have different core competencies, and overlaying that reality with an excessive regulatory / tax burden will not change that underlying reality, only distort the financial incentives in all of the complex economic relationships between all countries.