In recent years, I have been working on a book trilogy inspired by the rise and fall of Enron, easily a top-ten event in the history of commercial capitalism. I worked at Enron for 16 years and knew Ken Lay (a nice, albeit subtly flawed, man) well. No, I did not know the extent of the company’s problems (very few did), but I should have known more. Still, I was very critical of the company’s political business model and in particular, Enron’s climate alarmism and investments in (uneconomic, unreliable, unprofitable) wind power and solar power.
Book 1 in the trilogy, Capitalism at Work: Business, Government, and Energy (2009), spends several chapters on best business practices and sustainable corporate culture under capitalism proper–and the perils for the same from political capitalism.…
“The quality of [truth-seeking] depends on a willingness to respectfully engage in open, honest, and objective debate, to challenge … our own beliefs…. As the philosopher, economist, and Anglican bishop Richard Whately observed: ‘It is one thing to wish to have truth on our side, and another thing to wish sincerely to be on the side of truth’.”
– Charles Koch, The Science of Success (John Wiley & Sons, 2007), p. 115. [Book review here]
A week ago I posted a tribute to Julian Simon (1932–1998) on the anniversary of his death. The post was picked up elsewhere in the blogosphere, and I received a number of emails from academics who remarked about how much they appreciated Simon’s personal kindness and scholarly qualities. Steve Horwitz wrote at Coordination Problem:
…[Simon] was a model of what a scholar can and should be: well-read, totally on top of the relevant data, fearless about taking on sacred cows, unafraid to be in your face but always with a smile on his face.
Editor note: Julian Simon is a primary inspiration for this free-market energy blog, the name of which comes from his characterization of energy as the master resource.
Twelve years ago today came the shocking news: Julian Simon, age 65, had died of heart failure after his regular morning workout in Chevy Chase, Maryland. He had undiagnosed heart disease.
Just two months before, I had visited extensively with Simon when he came Houston to give what would be his last major address, titled: “More People, Greater Wealth, Expanded Resources, Cleaner Environment.” A full house of 200 heard Simon that day, and one in attendance, free-market entrepreneur Gordon Cain, was so impressed that he mailed Simon an unsolicited $25,000 check for research.
Simon invited me to coauthor an energy paper with him for a conference he was planning.…