Tag: Tesla

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free trade & free markets ideological culture

The Woke Mob’s Capitalism

climate justice, social justice, woke, wokeism

A prominent rating system has gone “woke.”

“Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500,” Elon Musk tweeted a few weeks ago, “while Tesla” — the billionaire’s high-​end electric car company — “didn’t make the list! ESG is a scam. It has been weaponized by phony social justice warriors.”

We could quibble. Is “phony” the right word? “Social justice” has always been slippery. It’s a “mirage,” explained Hayek, really just a stalking horse for power.

What Musk is objecting to, though, is worth thinking about. The ESG standard is supposed to mean something … based on objective criteria. The reasons to eject Tesla from its Top Ten and place Exxon at the pinnacle are laughably transparent. It’s a woke power grab. The leftist ideology has taken over another capitalist institution, the better to create …

What?

Socialism? Fascism?

Michael Rectenwald, in a fascinating essay, calls it “woke corporatism.” 

The plan is, he writes, to “establish a woke monopolistic cartel.” Musk’s company has been “subjected to the S in ESG — the ‘social’ or ‘social justice’ quotient.”

Musk, Rectenwald argues, “has been deemed a deplorable, and thus his company does not pass ‘social justice’ muster.” In other words, the putatively pro-​inclusion folks are excluding him from the ranks of the favored.

And all because he wants free speech on a social media platform!

Laissez-​faire grew out of economists’ objections to the grinding inefficiency and over-​politicization of business. Adam Smith, back in 1776, called the pre-​liberal, insider-​based trade system “mercantilism.”

The leftist mob now pushes a neo-neo-​mercantalism, mobocracy capitalism.

This is Common Sense. I’m Paul Jacob.

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general freedom individual achievement media and media people national politics & policies responsibility

Red Roadster Rides Outer Space

Tesla, Elon Musk, SpaceX, launch, space, orbit, government

On Tuesday, SpaceX launched one of the largest rockets ever, the Falcon Heavy. Because it is still experimental, it didn’t carry up an expensive satellite. Too early for that. Instead, it has sent up a Tesla Roadster.

And it’s not aiming for orbit … around Earth. 

It’s aiming for, well, “a precessing Earth-​Mars elliptical orbit around the sun.”

All the while playing the late David Bowie’s “Space Oddity.”

This is all very bizarre, of course. But SpaceX is headed by Elon Musk, who is one of those daring people who do daring things. The very fact that he kept finding funding (no small amount of it from taxpayers, sadly) for Tesla Motors (which he also founded), while failing to make a profit, is a tribute to … something.

Sending Musk’s personal car into space — to circuit Sol for a billion years — is, the visionary says, at least not boring. (Musk, perhaps not coincidentally for that word choice, also founded the Boring Company.) The Roadster, “piloted” by a dummy “Starman,” is an upgrade with flair.

But who is he playing to? The masses of auto buffs? Stargazers? Science fiction fans?* 

Maybe the mad-​scientist/​eccentric-​mogul is playing for bureaucrats, Capitol Hill staffers, and politicians. For, by one estimate, his companies have received $4.9 billion in government subsidies.

So, think of what’s going into orbit as just another part of the skyrocketing — spacerocketing — federal debt.

This is Common Sense. I’m Paul Jacob.

 

* The odd payload choice might make sense in sci-​fi context, for, in the early days of science fiction, one idea often mentioned was to literally send a bomb to the Moon: an explosion, after all, could be seen, in early Space Age days, with old technology right here from Planet Earth surface. This was the case in the boys’ book The Rocket’s Shadow as imagined in 1947.

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Accountability folly free trade & free markets moral hazard national politics & policies porkbarrel politics

Super-​Subsidize Me

welfare, taxes, charity, subsidy, subsidize, shrimp, stadium, Tesla

“In American political discourse, those on the side of the sick, poor, and underprivileged tend to favor more federal government intervention,” writes Heartland Institute policy advisor David D’Amato at The Hill. He explains that many “see government as … rather like a charity …”

Sure, government can act charitably, except that its money isn’t given voluntarily, and the recipients are often not so needy.

Earlier this month, the stock price of electric car company Tesla, Inc. rose high enough to overshadow General Motors. That’s great news for billionaire Elon Musk, Tesla’s CEO. But an Investor’s Business Daily editorial noted, “[T]he company is heavily reliant on taxpayer support.”

Who benefits (in addition to Musk)? “A study published by the National Bureau of Economic Research found that 90% of electric car subsidies go to the top 20% of households,” the editorial stated. IBD added that it was “a lot of welfare-​for-​the-​rich for very little environmental benefit.”

In addition to funding advanced technology, American taxpayers have spent $6.7 billion over the last few decades to subsidize stadiums for wealthy sports team owners. The latest? In Clark County, Nevada, taxpayers forked over $750 million ($354 for every resident) to bribe — er, bring — the Oakland Raiders to Las Vegas. 

The ridiculous Minnesota legislation to feed $5 million in state funds to start two shrimp farms almost seems reasonable in comparison. Almost.

“Maybe growing shrimp in Minnesota is a great idea,” admits John Hinderaker of the Center of the American Experiment. “If so, the owners should do what other small businessmen do: either find investors, or get a bank loan.”

Government’s crony capitalism taxes the poor to give to the rich.

This is Common Sense. I’m Paul Jacob.

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