I was in a large, packed room in the Hilton. A conference held in June by the Cato Institute and an Argentine free-market think tank, Libertad y Progreso, had entered its final hours. Elon Musk had just spoken — remotely. Now self-styled anarcho-capitalist Javier Milei, Argentina’s president since December, had turned up, clad in a suit, not his trademark leather jacket, and, considerably calmer than his reputation, was giving a speech…
In Rupert Brooke’s best-known poem, a soldier says that if he dies, there will be "some corner of a foreign field/That is for ever England." As I discovered nearly 30 years ago, such corners, dating from 1918 and 1919, can be found in a cemetery in Archangel (Archangelsk) in Russia’s far north. In her latest book, British journalist and historian Anna Reid explains how they came to be there.
Read MoreWriting in a recent Capital Letter about degrowth — an ideology revolving around the reorientation of the global (particularly in richer parts of the world) economy away from the pursuit of growth — I wanted to stress that this is not an outlier viewpoint shared only by the straitjacketed, which could be safely ignored.
And so I modestly repeated a point I had made in an earlier article on degrowth:
[D]egrowth has made inroads into the thinking of a significant cohort of scientists, economists, NGOs, activists, and writers. Signs of interest in it, if only at the periphery, can be detected in both bureaucratic and political circles, including the European Union and the United Nation’s Intergovernmental Panel on Climate Change…[F]ormer Obama energy secretary (and Nobel laureate) Steven Chu…has argued for “an economy based on no growth or even shrinking growth.”
On July 2, the Guardian published an article by Olivier De Schutter. He is a Belgian academic, the UN Special Rapporteur on extreme poverty and human rights. He wants us to “shift our focus from growth to humanity.”
Read MoreEarly-stage electric vehicle (EV) manufacturer Fisker, Inc. has filed for Chapter 11 bankruptcy. Of itself, that’s no scandal. Early-stage companies fail all the time. But the rise and fall of Fisker (and that of its predecessor) is a story of our times, and worth a closer look. Fisker’s predecessor, Fisker Automotive,was founded in 2007 by, to quote his X header, a “risk taker, innovation loving, protocol challenging designer and entrepreneur who turns dreams to reality & never gives up.” This modest fellow is a Danish designer well-known for his work with Aston-Martin and BMW. His name — guess — is Fisker, Henrik Fisker.
Read MoreThe word “degrowth” was probably coined by an Austro-French philosopher — words to be thrilled by — during the eco-panic of the early 1970s, the time of The Population Bomb and all the rest. But the thinking behind the word contains elements that are far older, fantasies of timeless appeal and unchanging stupidity. There is a yearning for a lost Arcadia, a fetishization of “nature” (sorry, “Nature”), and a rejection of modernity. Some on the interwar far right with their faith in “organic” food, dislike of the urban, and distrust of free markets would have understood. Make of that what you will.
This nonsense is infinitely more toxic when intertwined with millenarian belief, another ancient failing. Our sins — overconsumption, greed, and technological overreach — have led to the “boiling” of the planet. Punishment is underway, with more to come unless averted by penance and the restoration of a more virtuous order.
And that’s where degrowth comes in.
Read MoreOn Oct. 12, 1964, three smallish men, shrunk still more by a strict diet, squeezed into an aluminum sphere 8 feet in diameter. Earlier in the year, Nikita Khrushchev learned that the Americans were planning to send the first two-man capsule into orbit, and he wanted a Soviet trio in space ahead of them. The red team had neither a three-man craft nor a rocket powerful enough to shoot such a craft into space. The idea that they could quickly build both was ridiculous, but not so ridiculous as thinking that the Soviet leader’s demand could be ignored. So this particular sphere, a Vostok tailored for one (smallish) man, had been all but emptied out, given the minimum necessary refitting and relabeled Voskhod 1. The crew, according to author John Strausbaugh, had to do without bulky space suits and helmets and wore woolen leisure suits instead.
Read MoreIn 2006, Peter Pomerantsev, a British writer born in Soviet Ukraine (his parents emigrated shortly after his birth), moved to Moscow, wanting to work in television. As set out in his Nothing Is True and Everything Is Possible (2014), most media programming there was organized to entertain, beguile, and distract, to preserve the illusion of freedom even as its remnants were being dismantled. His latest book, How to Win an Information War, revolves around the World War II activities of Sefton Delmer (1904–1979), a British propagandist dedicated not to preserving illusions but to whittling them away. His most remarkable project (probably) was using GSI, a “radio station” purportedly based in Germany (in reality in the south of England), not to win over his German listeners but to unsettle them in ways that the Nazis would not welcome.
Read MoreThe principle that companies should stick to doing what they know best or to areas of business close to their existing areas of competence is by no means mandatory, but it’s one that any company should consider carefully before venturing into some new business area.
In November, I looked at how the Norwegian oil & gas champion Equinor (once more honestly known as Statoil) was doing with its diversification into renewables. To be fair, Equinor’s experience in the North Sea is of some assistance in building offshore wind farms, but this diversification effort has had its difficulties. Undeterred, the company, supported by its majority shareholder, the Norwegian state, which talks out of both sides of its mouth when it comes to oil and gas, has plowed on: bad luck taxpayers! Bad luck minority shareholders!
Read MoreThe remarkable An Ordinary Youth (now available for the first time in English in a translation by Michael Lipkin), an autobiographical novel by Walter Kempowski (1929–2007), opens with a fictionalized version of his family moving into its new apartment in Rostock, a formerly Hanseatic port on Germany’s Baltic coast. The plants on the balcony include “Jew’s beard geraniums.” It is 1938.
Read MoreSomething tells me that those forever talking up the qualities of electric vehicles (EVs) are becoming a little anxious. With clear signs that the growth in EV sales is failing to meet central planners’ expectations, Pete Buttigieg appeared on Fox News with a new tactic to persuade reluctant buyers to jump on the EV, uh, train. The new tactic was mockery, vaguely reminiscent of the tack taken by candidate Barack Obama in 2008, when he talked about those “bitter” Rustbelt folk “clinging” to their guns, religion, or worse.
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