If you are keeping up with the euro mess, Anthony Daniels’ piece on the Irish bailout in the Wall Street Journal probably won’t tell you anything of substance you didn’t know. But Daniels has a magnificent eye for the absurdity of it all. Who else, for example, has pointed out that a single bank (the Royal Bank of Scotland) loaned Irish residents the equivalent of $12,000 per person during the housing bubble? Or that it will take 1,936 years for the Irish to pay back the bailout loans – assuming the lenders charge no interest and that every resident contributes $250 per year to the kitty!
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EuroCash |
Professor Dieter Helm (Oxford) is a very fine fly fisherman, and an even better economist. If you haven’t done so, take a look at his new book “The Carbon Crunch: How We Are Getting Climate Change Wrong — and How to Fix It” for a bit of unconventional wisdom. He argues that politicians and the general public have not shown any real interest in addressing climate change. Helm argues that places like Europe should focus on setting a price for carbon that would cover consumption (and not just production), and that fracking could be a good “bridge” technology for reducing consumption of coal. The book is readable and insightful for those interested in the inside track on climate policy. 
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