I’ve commented on the corruption of the Solyndra scandal, but it’s important to understand this is not just a story of sleaze.
From an economic perspective, the real problem is that green-energy programs cause a misallocation of capital. Simply stated, government intervention diverts resources from more productive uses.
Here are a couple of examples, explained in videos put together by Senator Jim DeMint’s office.
The first video shows how a subsidiary of Coca-Cola used White House favoritism to subsidize its energy costs.
And the second video explains how a Spanish company, thanks to the Obama White House, benefited from industrial policy.
And what’s the economic impact of these forms of crony capitalism? I did a back-of-the-envelope calculation, estimating that there’s about $160,000 of investment for every real job in the private sector.
Click here to listen to the list of green-energy programs that create jobs more efficiently.
[…] And it’s true for environment policy. […]
[…] And it’s true for environment policy. […]
[…] P.S. Both in the past and today, industrial policy is very vulnerable to corruption. […]
[…] If you want to know why this is bad, just remember Solyndra. […]
[…] If you want to know why this is bad, just remember Solyndra. […]
[…] If you want to know why this is bad, just remember Solyndra. […]
[…] If you want to know why this is bad, just remember Solyndra. […]
[…] If you want to know why this is bad, just remember Solyndra. […]
[…] it’s true for environment […]
[…] so-called stimulus produced lots of corruption. The same was true with regards to Obamacare and green energy, which were his other main […]
[…] One of the worst features was the laughable and scandal-ridden green energy program, which featured corrupt boondoggles such as […]
[…] are supporting industrial policy since – in practice – it means awful policies like Solyndra-style handouts and power-grab schemes like the Green New […]
[…] Obama’s stimulus scheme had to be enacted to supposedly save the nation from another depression, but unemployment soared beyond administration projections and cronies got rich from boondoggles. […]
[…] regardless of the economy’s performance, which is to have fun with other people’s money. Think scams like Solyndra, but expanded to almost all parts of the federal […]
[…] Simply stated, the proposal gives politicians massive new powers to intervene and this would be a recipe for staggering levels of Solyndra-style corruption. […]
[…] One of the worst features was the laughable and scandal-ridden green energy program, which featured corrupt boondoggles such as […]
[…] to say, we can’t overlook Obama’s corrupt green-energy programs that fattened the wallets of well-connected […]
[…] like Mr. Lou learned from Obama’s Solyndra fiasco that cronyism doesn’t […]
[…] equation. Ms. Ocasio-Cortez wants to finance a “green new deal,” which presumably means a return to Solyndra-style […]
[…] people say the green-energy scams like Solyndra should be at the top of the list, but steering taxpayer money to campaign donors was […]
[…] the Obama years, I criticized the President for various green-energy scams that squandered money and produced scandals such as […]
[…] to say, we can’t overlook Obama’s corrupt green-energy programsthat fattened the wallets of well-connected […]
[…] By the way, the United States is not the only nation with green-energy boondoggles (remember Solyndra?). […]
[…] By the way, the United States is not the only nation with green-energy boondoggles (remember Solyndra?). […]
[…] getting Washington to ban incandescent light bulbs. Needless to say, we can’t overlook Obama’s corrupt green-energy programs that fattened the wallets of well-connected donors. And General Motors became Government […]
[…] like a classic example of Mitchell’s Law. Politicians pursue a policy (green energy or decarbonisation) that leads to higher prices. They then respond to the problem created by their […]
[…] hostile to programs like the Export-Import Bank, agriculture subsidies, so-called disaster relief, green-energy scams like Solyndra, and Fannie Mae/Freddie Mac […]
[…] hostile to programs like the Export-Import Bank, agriculture subsidies, so-called disaster relief, green-energy scams like Solyndra, and Fannie Mae/Freddie Mac […]
[…] hostile to programs like the Export-Import Bank, agriculture subsidies, so-called disaster relief, green-energy scams like Solyndra, and Fannie Mae/Freddie Mac […]
[…] Not because I’m against large companies, per se, but rather because big businesses often use their political influence to seek unearned and undeserved wealth. If you don’t believe me, just look at the big corporations lobbying for bad policies such as the Export-Import Bank, Dodd-Frank, Obamacare, bailouts, and the green-energy scam. […]
[…] Not because I’m against large companies, per se, but rather because big businesses often use their political influence to seek unearned and undeserved wealth. If you don’t believe me, just look at the big corporations lobbying for bad policies such as the Export-Import Bank, Dodd-Frank, Obamacare, bailouts, and the green-energy scam. […]
[…] corporate tax rate and bad carrots such as special Solyndra-style handouts (except, instead of loot for green energy, firms get loot for maintaining production in […]
[…] bad in agriculture. It’s bad in finance. It’s bad in the tax code. It’s bad in energy. It’s bad […]
[…] But here’s the part that jumped out to me. Over the years, the federal government has squandered hundreds of billions of dollars on a department that is most famous for wasteful Solyndra-style scams. […]
[…] But here’s the part that jumped out to me. Over the years, the federal government has squandered hundreds of billions of dollars on a department that is most famous for wasteful Solyndra-style scams. […]
[…] wasn’t similarly worried about corruption over the past eight years. Was he fretting about Solyndra-type scams? About the pay-to-play antics at the Clinton Foundation? About Operation Choke Point and arbitrary […]
[…] wasn’t similarly worried about corruption over the past eight years. Was he fretting about Solyndra-type scams? About the pay-to-play antics at the Clinton Foundation? About Operation Choke Point and arbitrary […]
[…] The Solyndra Scandal Reeks, but the Entire Green-Energy … […]
[…] of the economy’s performance, which is to have fun with other people’s money. Think scams like Solyndra, but expanded to almost all parts of the federal […]
[…] The Solyndra Scandal Reeks, but the Entire Green-Energy … […]
[…] more Solyndras and […]
[…] more Solyndras and […]
[…] predictably turned into a playground for the politically well connected (sort of a state version of the corrupt program in Washington that financed Solyndra and other money-losing […]
[…] predictably turned into a playground for the politically well connected (sort of a state version of the corrupt program in Washington that financed Solyndra and other money-losing […]
[…] more Solyndras and […]
[…] marketplace. But if they get rich via TARP bailouts, Ex-Im Bank subsidies, protectionist barriers, green-energy boondoggles, or some other form of cronyism, that’s reprehensible and […]
[…] some serious diverting of other people’s money. Makes scams like Solyndra, Export-Import Bank, and Fannie Mae and Freddie Mac seem like amateur hour by […]
[…] the most sensible approach if action genuinely is required. But the left prefers sure-to-fail (but very lucrative to cronies) industrial […]
[…] bottom line is that scams like Solyndra are the modern version of what many railroads did in the […]
[…] The Solyndra Scandal Reeks, but the Entire Green-Energy … […]
[…] The Solyndra Scandal Reeks, but the Entire Green-Energy … […]
[…] The Solyndra Scandal Reeks, but the Entire Green-Energy … […]
[…] money pits and Solyndra-style boondoggles? Gee, what could go […]
[…] railway money pits and Solyndra-style boondoggles? Gee, what could go […]
[…] And don’t forget bailouts. And favors in the tax code. As well as licensing. And the green energy scam. […]
[…] And don’t forget bailouts. And favors in the tax code. As well as licensing. And the green energy scam. […]
[…] now read what Dr. Jeffrey Singer wrote about electronic health records. Simply stated, this is like Solyndra, but much more expensive. Instead of wasting a few hundred million on cronyist handouts to Obama […]
[…] was just one example. Based on the ratio of energy produced compared to insider enrichment, the entire green-energy racket is a sleazy […]
[…] to say, we can’t overlookObama’s corrupt green-energy programs that fattened the wallets of well-connected […]
[…] was just one example. Based on the ratio of energy produced compared to insider enrichment, the entire green-energy racket is a sleazy […]
[…] I just don’t trust environmentalists to make policy. When they’re in charge, we get really dumb policies. Or grotesque examples of government thuggery. Or sleazy corruption and cronyism. […]
[…] to say, we can’t overlook Obama’s corrupt green-energy programs that fattened the wallets of well-connected […]
[…] to say, we can’t overlook Obama’s corrupt green-energy programs that fattened the wallets of well-connected […]
[…] his policies (TARP, Solyndra, etc) have been enormously beneficial to the cronyists and insiders that have made the Washington […]
[…] by closing economically damaging tax preferences for favored industries (like those enjoyed by Solyndra). This type of revenue-neutral tax reform is good, but lowering taxes altogether and letting […]
[…] by closing economically damaging tax preferences for favored industries (like those enjoyed by Solyndra). This type of revenue-neutral tax reform is good, but lowering taxes altogether and letting […]
[…] is giving away other people’s money, there are those who will try to abuse the program. That’s true for corporate welfare, and it’s true for traditional welfare like food stamps. And, as we see from the Treasury report, […]
[…] away other people’s money, there are those who will try to abuse the program. That’s true for corporate welfare, and it’s true for traditional welfare like food stamps. And, as we see from the Treasury […]
[…] I’m not sure this is humorous. Whether we’re looking at ethanol, Solyndra, or other green-energy scams that promote corruption and undermine the economy, this is not a laughing […]
[…] Green energy programs led to Solyndra-style scandals. […]
[…] I’ve written before that Obama’s Solyndra-style handouts have been a grotesque waste of tax dollars. […]
[…] written before that Obama’s Solyndra-style handouts have been a grotesque waste of tax dollars. I’ve argued that they destroy jobs rather than create jobs. I’ve gone on TV to explain why […]
[…] written before that Obama’s Solyndra-style handouts have been a grotesque waste of tax dollars. I’ve argued that they destroy jobs rather than create jobs. I’ve gone on TV to explain why […]
[…] I’ve written before that Obama’s Solyndra-style handouts have been a grotesque waste of tax dollars. […]
[…] let’s not forget examples of sleaze and corruption such as the Solyndra scam and the ethanol […]
[…] let’s not forget boondoggles such as Solyndra, where lots of money conveniently wound up in the pockets of Obama […]
[…] talking about TARP bailouts, our loophole-ridden 72,000-page tax code, Obamacare favoritism, or green-energy scams, it seems like the federal government is a giant favor […]
[…] Green energy programs led to Solyndra-style scandals. […]
[…] thought Romney’s response about corrupt Solyndra-type preferences was quite […]
[…] thought Romney’s response about corrupt Solyndra-type preferences was quite […]
[…] not look at government support for the alternative energy industry.” So Obama’s corrupt “green energy” programs got a free pass. Gee, how […]
[…] when Obama claims that corrupt, pork-barrel projects like Solyndra are “an investment,” I shake my head with disgust but I don’t get overly […]
[…] talking about TARP bailouts, our loophole-ridden 72,000-page tax code, Obamacare favoritism, or green-energy scams, it seems like the federal government is a giant favor […]
[…] talking about TARP bailouts, our loophole-ridden 72,000-page tax code, Obamacare favoritism, or green-energy scams, it seems like the federal government is a giant favor […]
[…] when Obama claims that corrupt, pork-barrel projects like Solyndra are “an investment,” I shake my head with disgust but I don’t get overly […]
[…] Green energy programs lead to Solyndra-style scandals. […]
[…] Obama, needless to say, is an expert at squandering other people’s money, as illustrated by money pits such as the faux stimulus and the green energy scam. […]
[…] thought Romney’s response about corrupt Solyndra-type preferences was quite […]
[…] This isn’t very prudent or wise since every economic theory agrees that capital formation is key to long-run growth and higher living standards. Even Marxist and socialist theory is based on this notion (they want government to be in charge of investing, so they want to do the right thing in a very wrong way – think Solyndra on steroids). […]
[…] This isn’t very prudent or wise since every economic theory agrees that capital formation is key to long-run growth and higher living standards. Even Marxist and socialist theory is based on this notion (they want government to be in charge of investing, so they want to do the right thing in a very wrong way – think Solyndra on steroids). […]
[…] already making similar mistakes in other areas, as evidenced by the green energy scam. Now it’s happening with the Fed. Next thing you know, you’ll wake up one day speaking […]
[…] Obama, needless to say, is an expert at squandering other people’s money, as illustrated by money pits such as the faux stimulus and the green energy scam. […]
[…] Obama, needless to say, is an expert at squandering other people’s money, as illustrated by money pits such as the faux stimulus and the green energy scam. […]
[…] I’m not sure, though, why anybody would be shocked by these results. We have a government in Washington that is pervasively corrupt, funneling money to corrupt scams like Solyndra. […]
[…] Or what about Government Motors? Or companies like Solyndra that are part of the green energy scam? […]
[…] be the wrong answer. When politicians try to allocate labor and capital, we get policies like Solyndra. We getFannie Mae and Freddie Mac. We get TARP, the minimum wage law, and […]
[…] be the wrong answer. When politicians try to allocate labor and capital, we get policies like Solyndra. We getFannie Mae and Freddie Mac. We get TARP, the minimum wage law, and […]
[…] to be the wrong answer. When politicians try to allocate labor and capital, we get policies like Solyndra. We get Fannie Mae and Freddie Mac. We get TARP, the minimum wage law, and a 72,000-page tax […]
[…] I’m not sure, though, why anybody would be shocked by these results. We have a government in Washington that is pervasively corrupt, funneling money to scams like Solyndra. […]
[…] I’m not sure, though, why anybody would be shocked by these results. We have a government in Washington that is pervasively corrupt, funneling money to corrupt scams like Solyndra. […]
[…] I’m not sure, though, why anybody would be shocked by these results. We have a government in Washington that is pervasively corrupt, funneling money to corrupt scams like Solyndra. […]
[…] I’m not sure this is humorous. Whether we’re looking at ethanol, Solyndra, or other green-energy scams that promote corruption and undermine the economy, this is not a laughing […]
[…] let’s not forget examples of sleaze and corruption such as the Solyndra scam and the ethanol […]
[…] The notion that bureaucrats and politicians can boost prosperity with some sort of “fund for growth and competitiveness” is hardly worth a rebuttal. I’ll just wish them luck as they create European versions of Solyndra. […]
[…] Since I’m fond of these little phrases, I am pleased to see that the ranking member of the Senate Budget Committee has proposed a “Solyndra Rule” that would bar any consideration of higher taxes so long as politicians are squandering money on corrupt scams such as green energy programs. […]
[…] The Solyndra Scandal Reeks, but the Entire Green-Energy Program Is a Scam […]
[…] (HT: Dan Mitchell) […]