Wednesday, June 24, 2009
How to Fix the Auto Industry
“In Europe, the high cost of fuel pushes consumers to buy fuel-efficient vehicles,” Close said. “In the U.S., it’s the government trying to convince people this is the sort of technology they need. The big question is whether they will succeed.”
The government can force people to like small cars by making it prohibitively expensive to own big ones. Why do we waste our time with subsidies and fuel standards? Unreal.
Compared with the totality of knowledge which is continually utilized in the evolution of a dynamic civilization, the difference between the knowledge that the wisest and that which the most ignorant individual can deliberately employ is comparatively insignificant. ~Fredrich Hayek in The Constitution of Liberty