On extraction.

On extraction.

The womb-suckers are trying to eat your children. Poke a soda straw into the future and sluuurp, away they go.  Hopes and dreams, metabolized today into so many dollar bills.

I spend a fair bit of time with drug dealers. Most are ethical people – they wanted to ingest drugs, and they knew some other people who wanted to ingest drugs, so they started selling.

But there’s an unethical way to push – some dealers focus on getting new users hooked.  That way they’ll have a steady income stream.  Most of the guys in my poetry class, if somebody talks about getting clean, congratulate and encourage the dude.  But some dealers would see rehab as a threat to their own livelihoods.

The future-eaters are like the second type of dealer.  They’re trying to kill babies – including babies who haven’t even been conceived yet – while proffering incredibly cynical rationalizations.


Yup, you’re right, kid.  Earth is beautiful. 
I’m sorry the grown-ups aren’t trying very hard to keep Earth beautiful.

Here’s the deal: regions of the Earth’s crust that lie beneath territories claimed by the United States contain rich deposits of hydrocarbons.  These could be dug up and combusted to power our factories, our automobiles, our giant arrays of computer servers that enable the internet.  The average person’s lifestyle in the U.S.gobbles energy, and deep below our lands is solar energy that photosynthesizing plants captured millions of years ago.

But we now know that there is only a limited amount of ancient stored sunlight beneath us.  The world’s oil reserves will eventually be depleted.  And so a smart investor, even if that investor believed that all the hydrocarbons beneath us should be combusted, bringing our planet closer to the hellhole that runaway climate change allowed Venus to become, would decide to wait.  Right now, the price of oil is low.  The total supply of oil is decreasing.  The population is rising.  If oil really is the best energy source, then the price will obviously rise. 


Venus was habitable once, but after atmospheric carbon dioxide levels got too high, climate change spiraled out of control.  I certainly wouldn’t want to live there now. Artist rendition from NASA.

I believe this relationship, lower supply = higher price, is taught within the first two lectures of any undergraduate economics course.

Since we’re rich enough to do it, we would make more money by buying oil now from those foolish countries who need cash right away and are currently selling their buried wealth, then extracting our own oil later when the total supply is lower and each barrel is worth more money.

The womb-suckers love money.  So why isn’t this their plan?

After all, we as a nation are wealthy enough to invest.  Throughout the ages, that’s what people blessed with current prosperity have done. By socking away money now – maybe by lending it to a neighbor and charging interest – you gain a constant source of income for the future.

The usual stereotype is that it’s foolish poor people who eat the future.  When you’re starving, you might eat seeds from the granary.  That’ll help you survive another winter, but next year the famine will hit even worse.  Methamphetamines let you trade away future health to do more today.  So do cigarettes.

The womb-suckers rarely pull drags of nicotine into their own bodies.  But they’ll happily light one for our planet.

The president of the U.S. wants to drill for oil beneath the Arctic National Wildlife Refuge.  The president of Brazil wants to cut down the Amazon rain forest for gold mines and hamburgers.

But there is a framework in which their urgency to eat the future is rational.  If people will notice what’s happening and stop them later, they need to get it done now. The window for personal gain is closing: slash and burn while you can.

And there is, of course, the comparison to an unethical drug dealer.  You have to keep selling even when the heat is closing in because otherwise your customers could get clean and then you can’t make money off your product anymore.

We’ve reached a point where many people have realized that the future is in peril –most people who get their news from any source other than the state-endorsed propaganda network – but, let’s face it, people are lazy.  I’m lazy too.  Even though I know that disposable diapers are wasteful to manufacture and then ship off to landfills, my family resorts to them during weeks when we’re too overwhelmed to wash another load of excrement-encrusted rags.

Similarly, everyone knows that a vegan diet is better for the planet. But most people still eat meat. The Republican party’s big-government subsidies make hamburgers cheap … and those burgers are already cooked, waiting at the drive through, chock full of delicious fat, salt, and MSG. Being vegan takes more effort.

But we’re well-meaning, most of us.  And lazy, well-meaning people just need a little nudge to start doing the right thing.

The womb-suckers are justifiably worried that a small hiccup in the rate of extraction now might be the final nudge necessary to get the world to change.  Switch to renewable energy.  Recycle and re-use more of what we’ve already dug from the ground.

The womb-suckers need to flood the market, get what money they can before the rest of us sober up.  It’s the best thing for a murderous hedonist to do; with enough money, they can soar the skies in gold-plated airplanes.  With enough money, even boorish, ugly men have a shot at having sex with pornographic film stars.

The future eaters see no contradiction, calling themselves “pro-life” while they frantically strive to make billions of unborn children die.

On free-market economics & the actual meaning of words.

On free-market economics & the actual meaning of words.

CaptureDespite being rather politically liberal, I consider myself a free market economist.

(Maybe it’s unfair to self-describe as an economist, though?  I did the coursework for a master’s degree in economics… but couldn’t get a degree because I didn’t complete the residency requirement.  I was enrolled as an undergraduate at the time, and apparently would’ve needed to be enrolled as a graduate student for my coursework to count.)

Sure, there are instances where free markets don’t fare so well — the free market solution to entertainment is for people to pirate whatever they’d like to watch, hear, or read, and then for producers of those media to realize they can never turn a profit.  But for many types of commerce, free markets work great.

But, just like the term “pro-life” (I describe myself as pro-life, for instance, which can confuse people because I am a staunch supporter of women’s rights and lives), the words “free market” have taken on a political connotation that doesn’t always gel with actual meaning.

For instance, I promptly began to pout when I read the following paragraphs in James Surowiecki’s New York Review of Books article, “Why the Rich Are So Much Richer“:

CaptureThe redistributive policies [Joseph] Stiglitz advocates look pretty much like what you’d expect.  On the tax front, he wants to raise taxes on the highest earners and on capital gains, institute a carbon tax, and cut corporate subsidies.  But dealing with inequality isn’t just about taxation.  It’s also about investing.  As he puts it, “If we spent more on education, health, and infrastructure, we would strengthen our economy, now and in the future.”  So he wants more investment in schools, infrastructure, and basic research.

If you’re a free-market fundamentalist, this sounds disastrous — a recipe for taking money away from the job creators and giving it to the government, which will just waste it on bridges to nowhere.  But here is where Stiglitz’s academic work and his political perspective intersect most clearly.  The core insight of Stiglitz’s research has been that, left on their own, markets are not perfect, and that smart policy can nudge them in better directions.

A strange turn of phrase.

Sure, it’s reasonable to imagine a free-market fundamentalist kvetching over increased taxes on high earners and capital gains (progressive taxation means that, for anyone outside the bottom tax bracket, choosing to work one additional hour produces income taxed at a higher percentage than the average tax rate being applied to your current income.  So the claim is that progressive taxation causes people to work less.  This claim is unverified, though, and indeed you could make an equally plausible argument for the opposite: if people want a certain post-tax income, raising tax rates will cause them to work more in order to earn that same amount).

But it’s very strange to write that a free-market fundamentalist would consider it “disastrous” to cut corporate subsidies.  How do government handouts to high-fructose corn syrup manufacturers reflect the free market?

They don’t, obviously.  But it’s so ingrained in our culture to equate things like “free-market fundamentalist” and “right-wing economist” that even very bright people (I enjoyed the rest of Surowiecki’s article) sometimes make claims about one when they mean the other.

Similarly, I think that someone who self-describes as “pro-life” should be concerned about women’s well-being, would weigh the well-being of a sentient neglected child above that of a pre-sentient fetus, would be an advocate for economic & social justice, would have empathy for livestock subject to torturous existences in CAFOs (concentrated animal feeding operation), would be appalled that environmental harm & climate destabilization is aggravating armed conflict across the globe.  Obviously I was thrilled to read Thomas Friedman’s editorial, “Why I Am Pro-Life.”  I thought it’d mean I’d get fewer confused looks.

It didn’t.  But it’s still a lovely editorial.

And, getting back to economics: even though right-wing politicians oppose it, a free-market fundamentalist would support a carbon tax.

CaptureProducing carbon is a negative externality.  That means it’s a cost of production that is not inherently paid by the producers — other well-known negative externalities are the raw sewage, bad smells, & concomitant reduced property values brought by CAFOs, or the suddenly poisonous well water in towns adjacent to certain types of coal mines.

For the free market to work properly, negative externalities must be priced through taxation.  If not, too many of the associated good are produced and everyone’s utility (“happiness” is a reasonable synonym for the word “utility”) is lower than it could’ve been.

(Well, almost everyone’s — in some cases net utility is lower, and all but one person’s utility drops, but the person operating a mine at below-market rates and poisoning everyone’s water is happier.  The mine owner might earn enough that he can afford to buy bottled water, a big house, & a politician or two.)

This is analogous to the well-known “tragedy of the commons,” the idea that if all shepherds have unlimited free access to a shared space, they’ll have their sheep overgraze it.  After a few years, the grass is dead & everyone’s sheep starve.  Similarly, if we give all corporations unlimited free access to the atmosphere as a garbage bin, each has an incentive to overpollute and kill us all.

If that sounds overdramatic, please read the Easter Island chapter of Jared Diamond’s Collapse.  The book’s central message is that environmental disaster obliterates societies, and Easter Island is perhaps the best example of a once-fertile land pillaged by its inhabitants, who then could not survive minor geological shocks.  To this day the island is covered by grassy hills & insouciant gods, but it was once densely forested & harbored a variety of plant life.  Then the inhabitants chopped down the trees.  In Diamond’s words:

CaptureI suspect that landscape amnesia provided part of the answer to my UCLA students’ question, “What did the Easter Islander who cut down the last palm tree say as he was doing it?”  We unconsciously imagine a sudden change: one year, the island still covered with a forest of tall palm trees being used to produce wine, fruit, and timber to transport and erect statues; the next year, just a single tree left, which an islander proceeds to fell in an act of incredibly self-damaging stupidity.  Much more likely, though, the changes in forest cover from year to year would have been almost undetectable: yes, this year we cut down a few trees over there, but saplings are starting to grow back again here on this abandoned garden site.  Only the oldest islanders, thinking back to their childhoods decades earlier, could have recognized a difference.  Their children could no more have comprehended their parents’ tales of a tall forest than my 17-year-old sons today can comprehend my wife’s and my tales of what Los Angeles used to be like 40 years ago.  Gradually, Easter Island’s trees became fewer, smaller, and less important.  At the time that the last fruit-bearing adult palm tree was cut, the species had long ago ceased to be of any economic significance.  That left only smaller and smaller palm saplings to clear each year, along with other bushes and treelets.  No one would have noticed the falling of the last little palm sapling.

Sure, a free-market fundamentalist would bemoan government interventions like a cap & trade system to regulate pollution.  I’m a hippy-dippy liberal and I hate the idea of cap & trade, too.  But assessing the cost to all for each unit of carbon production, then levying a tax so that corporations know the true consequences of their decisions?  That is a free market solution.

Similarly, a free-market fundamentalist should support government subsidies to education, infrastructure, and basic research.  Those are all goods with significant positive externalities, meaning each produces benefits that accrue to the population as a whole, not just to the individual who had to pay to build a road.  Since the value of these goods to the economy as a whole is undercounted, the correct equilibrium amount won’t be produced unless they are subsidized.

CapturePositive externalities are things like keeping bees.  If you keep bees, you get some honey, maybe you get some pleasure by looking at your hive from time to time.  But your decision to keep bees also makes all nearby farmland more productive.  Because it’d be difficult to track each bee & charge each nearby farmer for every flower fertilized by one of your bees, it’s more sensible to simply subsidize beekeeping (with perhaps some restrictions on where you’re keeping bees — if you’re living in the middle of a city, your bees might not be helping much).

Similarly, if you educate children, employers gain access to a more competent workforce, citizens gain more pleasant neighbors, often less needs to be spent on policing & prisons a few years down the line.  Government-funded research made possible our wireless technologies, the internet, microwave ovens — & these make everyone’s lives more efficient.  The free-market solution that compensates the researchers who gave us all these near-magical technologies is to subsidize their research.

The other common solution, the one that is not a free-market approach but is favored by many right-wing politicians, is to grant patent protections, artificially disallowing all but one corporation from producing any of a good.

That type of distinction is why it saddens me to see habitual misuse of words or phrases as slogans lend them a connotation that’s so different from their actual meaning.  Especially because, in the case of something like “free market” or “pro-life,” the distinction changes the world in appreciable ways.  Like, okay, if everybody wants to use the word “peruse” to mean “skim,” of if everybody wants to use the word “fortuitous” to mean “fortunate,” I’ll just stop using those words.  I don’t want to use them incorrectly, but I don’t want to confuse anyone, either.  But “free market” and “pro-life” are such big, emotionally-charged concepts that I get upset about political efforts to commandeer them.