Richard Ebeling emails:
I have a new article on the news and commentary website, “Bill Gates, Climate Change, and the Capitalist System,”
In an interview in the “Atlantic” magazine, Bill Gates has argued that capitalism is unable and unfit to face up to the challenge of “climate change” and “global warming.” Businessmen are too short-sighted, too resistant to innovation and improvement, and too narrowly profit-oriented to ever have the incentive or ability to find energy and related solutions to “save the planet” from environmental ruin.
Government guidance, subsidies and “partnerships” with business are Bill Gates’ answer to the problem of “climate change.”
Whatever his business acumen and his own innovative creativity, Bill Gates seems to understand very little of the actual workings of an open competitive market economy or the nature and spirit of entrepreneurship that has transformed more and more of the world from abject poverty to increasing horns of plenty.
And his view of government is a naïve child-like fantasy that ignores the real workings and corruption of the political process.
Environmental and all other social problems have the best opportunity for discovery of solutions when there are individual rights, recognized and enforced property rights, and market-based profit opportunities.
Anything less leaves society faced with the “tragedy of the commons” where communal access and control creates a free-for-all for resources to be over utilized and depleted in wasteful ways that do not take the future properly into account.
And this includes “climate change” and “global warming,” to any extent these problems might actually exist.