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Gresham’s Law of Green Energy

Winter 2010-2011

By Jonathan A. Lesser | Continental Economics Inc.


While the U. S. economy continues to struggle,
politicians, green energy advocates, and energy
regulators have adopted a “green jobs” mantra.
They espouse the view that policies mandating
renewable resources will provide not only environmental benefits,
but economic salvation as well.

The most recent example of this phenomenon is in California
where, last September, the California Air Resources Board
adopted a requirement that the state obtain one-third of its
electricity supplies from renewable energy resources by the year
2020. California governor Arnold Schwarzenegger noted approvingly
in a press release, “There is a multi-trillion dollar global
market for clean energy, and I look forward to seeing even more
investment and job creation happen throughout our state with
today’s commitment.”

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It is our attitude toward free thought and free expression that will determine our fate. There must be no limit on the range of temperate discussion, no limits on thought. No subject must be taboo. No censor must preside at our assemblies.

–William O. Douglas, U.S. Supreme Court Justice, 1952

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