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Capitalism is Saving the Planet Part 1: Wealth Makes Health, Eventually

We are often told that capitalism is destroying the planet, and that the only way we can repent from causing environmental degradation is to switch from a capitalist system to a socialist system. This thought process, however, could not be more wrong. Today we are going to talk about a phenomenon which is often referred to as the Environmental Kuznets Curve. The theory behind this idea can be summed up in these three steps: 1. When an economy is primarily pre-industrial and agrarian, the environment is usually clean and untouched by pollutants from industrial economic activities. 2. As the economy shifts towards development and...

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If Wind Energy Saves Ratepayers Money, Why Does Xcel Brag About How Wind Investments Increase Profits for Shareholders?

Wind energy is supposed to be the cheapest energy source available, providing energy savings to Minnesota businesses and families.  Just read this opening paragraph of a StarTribune article, which claims that “The cost of wind energy in Minnesota, even without tax subsidies, now appears lower than that of electricity produced from both natural gas and coal.”  The validity of this statement can be proven false simply by using public data provided by the Federal Energy Regulatory Commission (FERC). As you can see from the graph below, the cost of electricity from wind farms is more expensive than both coal and natural gas plants.  Figure 1 The capacity factor of a power plant can...

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