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There is Nothing Worse Than Crony Capitalism
Posted: Mon Oct 21, 2013 11:10 pm
by bobevenson
The stupid U.S. legislation mandating 10% ethanol in gasoline is a prime example of crony capitalism (a government subsidy to U.S. farmers).
Re: There is Nothing Worse Than Crony Capitalism
Posted: Tue Oct 22, 2013 12:24 am
by The Voice of Time
A stupid law indeed, a lot of wasted farmland. As far as economic efficiency and ecological welfare goes, ethanol-based fuel is completely ridiculously wasteful, you barely manage to transport the stuff around for distribution before you've spent what you grew.
In cases such as this, one really needs some people with actual profits in mind indeed Bob, although you probably don't care so much about environment or soil efficiency as I do.
Re: There is Nothing Worse Than Crony Capitalism
Posted: Tue Oct 22, 2013 1:07 pm
by bobevenson
The Voice of Time wrote:A stupid law indeed, a lot of wasted farmland. As far as economic efficiency and ecological welfare goes, ethanol-based fuel is completely ridiculously wasteful, you barely manage to transport the stuff around for distribution before you've spent what you grew.
In cases such as this, one really needs some people with actual profits in mind indeed Bob, although you probably don't care so much about environment or soil efficiency as I do.
The problem is not wasted farmland, but rather the misallocation of resources perpetrated by the government to enrich certain people at the expense of others. It is the absence of a free market. Soil efficiency should be left up to the free market, but the environment affects everyone, and standards need to be developed, applied and enforced by the government.