Externalities and tariffs

Externalities

I got The Age of Turbulence for Christmas. Very interesting so far, especially to read with hindsight given recent history. This passage is fascinating:

“…According to objectivist precepts, taxation was immoral because it allowed for government appropriation of private property by force. Yet if taxation was wrong, how could you reliably finance the essential functions of government, including the protection of individuals’ rights through police power? The Randian answer, that those who rationally saw the need for government would contribute voluntarily, was inadequate. People have free will; suppose they refused?

Hydrogen to electricity?

Here’s a good candidate for the silliest energy idea I’ve heard in a while:

http://www.ted.com/index.php/talks/reinventing_the_car.html

Larry Burns, the vice president for R&D; at GM, notes that 4% of cars equal the power generation ability of the entire current electric grid, and dreams of a future where fuel cell vehicles are used to generate electricity while parked. This is great because hydrogen can come from a wide variety of sources, so as long as each community has their own tailor-made method for generating it, we can use the cars to cheaply generate electricity. Finally, we can close the loop on this convenient diagram from wikipedia:

Foie Gras