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Maybe Next Time

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Here’s a letter to the Weekly Standard:

You report that “Solyndra, a solar panel manufacturing company much ballyhooed by the Obama administration, declared bankruptcy.  The company had received $535 million in September 2009 from a Department of Energy grant program funded by the stimulus” (“Green Jobs in the Red [2],” Sept. 12).

No surprise here.  From Pres. Obama on down, none of the politicians speculating with taxpayers’ funds on “green” business ventures – and none of the pundits spellbound by their own imagined genius at knowing how to improve an unimaginably complex economy such as ours – has any material skin in the game.

Too bad that too few Americans, when presented with the latest Glorious Vision or Beautiful Plan, are as clear-eyed as is the economist Deirdre McCloskey, who writes “If you are prudent and bourgeois, not a romantic aristocrat or a gullible peasant, you say to yourself ‘Why is he telling me this?  Why has he not put his money where his mouth is?'”*

Donald J. Boudreaux

* Deirdre N. McCloskey, The Vices of Economists / The Virtues of the Bourgeoisie [3] (Amsterdam: Amsterdam University Press, 1996), p. 103