In free-market economies, decisions about whether to invest in a technology or an industry are made by market actors with private capital. The promise of profit induces investment in promising ventures and the sting of loss penalizes those investments that turn out to be misguided. Of course, we live in a mixed economy in which government frequently assumes tasks that were once left to private individuals and corporations. Whether the government should invest in green energy suggests two questions. Are major green energy investments worthwhile in the first place? And should the Obama administration be spending $80 billion in grants and loans to make these investments on our collective behalf? [Read more…] about Up to The Private Sector to Invest in New Technology
