Coincidentally (for it is indeed just that) given today’s “Quotation of the Day,” George Selgin is inspired by John Morley to defend the exploration and advocacy of worthy ideas even when such ideas are politically impractical.
While preparing for a class that I’ll teach this semester on the Economics of Sustainability, I’m running across lots of great books, articles, and blog posts that I missed when they were first published. (I’m running across also lots of awful books, articles, and blog posts.) This 2011 post by Sean Corrigan is excellent. (HT Matt Ridley)
Writing a few weeks ago in the National Post, Alex Epstein – author of the splendid new book The Moral Case for Fossil Fuels – encourages us to make the world a better place by using more fossil fuels.
A Pennsylvania state government “Student and Teacher Guide” reads: “Some estimates of the oil reserves suggest that by the year 2015 we will have used all of our accessible oil supply.”
Yet the Earth still has oil: at least 1.6 trillion gallons of proven reserves, according to the Energy Information Administration, a US government agency. In fact, proven reserves have more than doubled over the last couple decades, as technological innovation made more oil accessible.
Here’s the website for the expanded second edition of Gerald P. O’Driscoll, Jr.’s and Mario Rizzo’s classic volume, originally published in 1985, The Economics of Time and Ignorance (now retitled Austrian Economics Re-Examined.) (HT Pete Boettke)