Tuesday, October 19, 2010

Green Jobs

Bob Herbert:
With his sky-high approval ratings and the economy hemorrhaging hundreds of thousands of jobs a month, a bold and creative employment initiative, tied to long-term investments in infrastructure and green energy, was the issue that President Obama could — and should — have used to trump Republican obstructionism.

FLG knows he's written this before, but it bears repeating -- green jobs are akin to creating jobs by breaking windows. It is the legislative equivalent of breaking existing technology, and results in a destruction of wealth.

This doesn't mean that we might not be better off overall for it because we are currently pricing in the negative externalities caused by emitting carbon (although I doubt that too), but we certainly won't be better off in economic terms because of them. FLG really wishes people would stop saying things like this. Then again, he's got zero hope for Bob Herbert on this issue.

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