Speaking of the sun, California’s grid is poised to weather this summer better than last year owing to more abundant hydropower from winter storms. However, if there’s a heat wave, California would need to import more power from other states—beyond the enormous amounts that it already does—after the sun goes down.
If neighboring states are strapped too—for instance, because the EPA won’t let them run coal plants all-out—Californians could be stuck. Better buy an emergency generator while stores still have them.
This was always the danger in “stakeholder capitalism,” the decades-old attempt to nudge corporations into serving interests other than their own shareholders and consumers. It subordinates consumers, the very people who should be in charge.
“The real bosses, in the capitalist system of market economy, are the consumers,” the economist Ludwig von Mises famously wrote in his book Bureaucracy. “They, by their buying and by their abstention from buying, decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality.”
In this letter in the Wall Street Journal, Marcie Wilhelmi makes an excellent point:
Former Sen. John Danforth’s op-ed “The Clarence Thomas Stories that PBS Refused to Tell” (May 20) is appropriately measured, but I feel that when NPR and PBS continually shill for obvious partisan campaigns, their tax funding should be removed. Contrary to what they expect, my admiration for Justice Thomas grows as he weathers these disingenuous attacks.
Marcie Wilhelmi
Augusta, Ga.
George Leef documents yet another instance of woke intolerance on campus.
Juliette Sellgren talks with Emily Chamlee-Wright about the liberal sensibility.
Rich Vedder explains that “Biden’s college-loan writeoffs are unfair, irresponsible – and illegal.” A slice:
The administration brags about the money borrowers will save; but what about taxpayers, who ultimately will be responsible for the unpaid debts?
