With Brexit almost out of the way, the focus has shifted to the war on carbon dioxide. I have covered this in previous blogs here and here. Even the term “Greenhouse effect” is misleading and creates a false picture in people’s minds. IF the climate is changing, and IF it is due to human activity, the cause is almost certainly something other than an increase in carbon dioxide levels. That is the devil in the hysteria. It could be making everyone aim at the wrong target.
I got involved in a discussion with a Youtuber called “Philosophy all along”. This was in connection with criticism of Trump’s policy of deporting illegal migrants, which he argued would be bad for the economy as it would reduce demand. This implies that there is a need to import people to sustain demand. There is no obvious reason why a population should not be able to consume everything that the same population produces. If it can not, then something else is going on. It is a basic principle that wages are the least that workers will accept to do a job. Wages are a share of the value added by workers through their wages. The remainder is distributed as economic rent, after government has taken its cut in taxes. Monopoly profit is a temporary surplus that after a delay gets absorbed into economic rent. Land values in Silicon Valley are an example of this; it's like a gold rush. The miners get little out of it. Rent and tax syphon purchasing power away from those who produce the g...
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