With the collapse of Bear Stearns and the US automakers and airlines tanking, and the prospect of a trillion dollar bailout of Fannie Mae, Freddie Mac, and who knows how many other large lenders, all because they are, putatively, “too big to fail” (by which is meant, obviously, not that they are so large as to be incapable of failing, but that they are so large as to make the consequences of their failing worse than the immediate, visible consequences of bailing them out), I’ve started wondering if perhaps what we really need is an update to our anti-trust laws, to the effect of: if you’re too big to fail, you’re just plain too big.
Instead of allowing corporate juggernauts to form, and then eventually being “forced” to save them from their own follies, why not just keep these captains of industry small enough that we never need to save them. The Feds already have to approve the bigger mergers and acquisitions – they already have this power by-and-large. Keeping our companies a little smaller would increase competition, and diversity within the corporate ecology of our markets. GM doesn’t want to make fuel efficient cars? Fine – their small-cars division can spin off and do its own thing. Sink or swim in its competition with Toyota, while GM itself just sinks, into an ever shrinking ocean of $150 oil.
Instead, we give taxpayer cash to large companies that have made bad business decisions, and absolve them of their obligations to pay the pensions they promised to their lifelong employees. We inflate the dollar and erode both our spending power, and our savings, while simultaneously crippling the long term competitiveness of our biggest industries. I don’t think the marginal increase in productivity from economies of scale that happens between being a $20 billion company and a $40 billion company is really worth it, if it means we’re all eventually on the hook for bailing out the $40 billion company, when we wouldn’t have to shovel mountains of cash at the two $20 billion companies… one of which might actually have made some good business decisions.
Recently the Texas Dept. of Transportation posted an article describing a study they’ve done showing that fuel taxes don’t even come close to paying for roads (reported on Streetsblog and Worldchanging independently). I’m not surprised by this, and it’s nice to have someone like Texas on my side. However, their article was light on details – what I’d really like to see is the GIS dataset displaying all the roads in Texas, color coded by what proportion of their maintenance costs they do generate in fuel tax revenue (the TXDOT article says explicitly that “not one road” in Texas pays for itself… suggesting that they have done this analysis).
However, when I contacted them for more information, I got this response:
Thank you for your inquiry and request for further information about the Asset Value Index mentioned on our Keep Texas Moving website. The article you referenced discusses a methodology that TxDOT has developed (and recently refined in response to comments made by the Texas State Auditor’s Office) to compare the costs and revenues associated with a particular segment of roadway. The attached report explains that methodology and provides a set of examples of its application. We have not performed this calculation for every roadway segment in Texas. And, we are not currently using the calculation at this time. However, we do believe that the methodology and the information produced from this calculation can be valuable in assessing roadway investments and needs.
If you have any further questions about the methodology after reviewing the report, please contact Lisa Conley or Ron Hagquist in the TxDOT Government & Public Affairs Division Research Section at 512-416-2382.
(emphasis mine) and a PDF of a report describing the methodology they used.
So, what’s going on here. Have they done the analysis or haven’t they? When will they release the full report, or are they going to keep it embargoed, if it even exists? Maybe I should give them a call.
Imagine a world in which nothing is mined, where all the mineral resources we will ever need as a society have been extracted, and circulate perpetually in the economy, being endlessly transformed from finished goods into raw materials, and back again, with nothing input except renewable energy. This is a world of increasing material efficiency, and static population, in which standard of living is not defined by quantity of materials consumed. Buildings are de-constructed and re-assembled. They are designed with this in mind. Acid mine drainage is a thing of the past, and the mountaintops of West Virginia have regrown their deciduous veneer. Landfills are systematically emptied, and the copious resources placed within them by previous generations are re-organized into their useful constituent parts.
In response to What comes after green?
Amy’s Salon is meeting tonight, talking about the recent Supreme Court decision to uphold the 2nd amendment in Washington, D.C. I did a bit of reading on the subject, and (regrettably) I agree with Scalia:
“Undoubtedly some think that the Second Amendment is outmoded in a society where our standing army is the pride of our nation, where well-trained police forces provide personal security and where gun violence is a serious problem. That is perhaps debatable, but what is not debatable is that it is not the role of this court to pronounce the Second Amendment extinct.”
Continue reading Who cares about guns?
Michelle and Jeremy and I went to a talk entitled Sacred Science at Caltech last night put on by the The Skeptics Society, it was part of Suart Kauffman’s book tour for Reinventing the Sacred. It was okay, but it could have been great. If you’re interested, he gave essentially the same talk at Beyond Belief in December (41 minutes long).
His purpose seemed to be to outline a semi-formal proof that atheistic humans are justified in reinventing the sacred for themselves as something which is wholly naturalistic, and that doing so has great value. I agree, but I’ve agreed for years. I guess some atheists haven’t yet come to this conclusion. This is the same conversation that we ended up in at Amy’s Salon a couple of months ago, and I’m always like “Yes, YES already, so let’s just get on with reinventing it, instead of continuing to try and convince ourselves that we should do it. It’s a meta conversation. We’re talking about talking about what we think should be revered. Are we afraid that we won’t be able to come to any kind of common ground, and that just having the conversation will somehow splinter us into even smaller non-theistic sects?
Continue reading Meta-reinventing the sacred, yet again
Chris Mooney and Matt Nisbet came to Caltech and gave SASS talk on Monday night, and ran a science media messaging workshop entitled Speaking Science Bootcamp all day Tuesday. It was great. Anybody who’s getting a PhD in science should go through at least that much communication training, and if they’re in an area that has policy implications, or they have any interest whatsoever in doing outreach or communication of science, they should have a week long course on the same material.
Continue reading Science Framed at Caltech
Water rates in all of the SoCal MWD are going up this summer by 15-30%. Drought has been declared. There’s talk of Lake Mead being completely dry by 2021, and our shower has decided to conserve water. It refuses to stay on for more than a few seconds at a time, strongly suggesting that you conserve water. At first this might seem annoying, but long showers have been a guilty pleasure of mine, and I actually don’t mind getting some backtalk from the plumbing. Continue reading Our Drought Aware Shower
Because my bicycle is my only non-pedestrian transportation, and because I have only one bicycle, major maintenance is terrifyingly imperative. It strands me. My annual tear-down, cleaning, and re-build is a focusing event. You might say this argues for having more than one bike, and I might agree, except that any time I’ve had more than one bike, it’s felt like having a mistress (or so I imagine). Continue reading Bicycle Building Trance
From a purely climatic point of view.
Assuming the following:
- For each calorie of food you consume, the equivalent of 9 additional calories worth of gas were burned to get the food to your plate (this is industrial food production).
- You eat 2000 calories per day.
- Your car gets 30 miles per gallon.
- Each gallon of gas contains the equivalent of 30,000 calories worth of energy. Continue reading How important is local food?
The futurist and physicist Freeman Dyson wrote a piece for the New York Review of Books on Climate Change. He’s a very (very) bright guy, but I think he is wrong. Actually, I think that the whole framing of the climate issue in the media, in the government, and possibly in many scientific circles, is wrong. Continue reading Freeman Dyson on Climate