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August 14, 2009

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I agree with Becker that it's a silly program. Like the bailout of the auto companies, the program had dual environmental and economic-recovery goals. The environmental goal, to reduce carbon emissions, was trivial; the aggregate improvement in gas mileage from the program is certain to be minuscule. The contribution to economic recovery was probably very small as well--possibly negligible. The program was one of transfer payments, not government investment. The distinction is important to Keynesian deficit spending (what is now referred to as "stimulus") as a method of fighting a depression.

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It isn't what you have, or who you are, or where you are, or what you are doing that makes you happy or unhappy. It is what you think about.

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Next time I'll put on some lederhose and sing "Adelvice". That should shatter the Captain Von Trapp illusions most thoroughly..

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