“Good profit can only result from creating value for the consumer. It is the manifestation of the entrepreneur’s respect for what the customer values.”
– Charles Koch, Good Profit (New York: Crown Business, 2015), p. 244.
In his previous book, The Science of Success, Charles Koch, classical-liberal CEO of Koch Industries, Inc., described heroic, moral capitalism as “maximizing long-term profitability for the business by creating real value in society while always acting lawfully and with integrity.”[1] Real value to Koch comes from the economic means of consumer service, not the political means of special government favor (see here).
Part I yesterday shared some Koch quotations on cronyism from years past. Today, quotations from Koch’s just released book are presented that clearly spell out his views of cronyism in the mixed economy (what has been called political capitalism):
“Good profit comes from making a contribution in society–not from corporate welfare or other ways of taking advantage of people.”…
Continue Reading“Today, many governments give special treatment to a favored few businesses that eagerly accept those favors. This is the essence of cronyism…. One obvious example of this involves wind farms. Most cannot turn a profit without the costly subsidies the government provides.”
– Charles G. Koch, “The Importance of Economic Freedom.” August 17, 2012.
Classical-liberal entrepreneur Charles Koch, CEO of Koch Industries, Inc., valued at $100 billion, is one of the most intellectual business leaders in the United States, if not the world. He also takes the prize as the most trenchant critic of cronyism (rent-seeking) where business representatives lobby for special government favor.
Charles Koch’s views are based on his extensive study of the theory and practice of social cooperation for mutual gain–and prosperous societies. His verdict for private property, free markets, and the rule of law–and against government intervention–is long held.
The Alliance for Wise Energy Decisions (AWED) is an informal coalition of individuals and organizations interested in improving national, state, and local energy and environmental policies. Our premise is that technical matters like these should be addressed by using Real Science (please consult WiseEnergy.org for more information).
A key element of AWED’s efforts is public education. Towards that end, every three weeks we put together a newsletter to balance what is found in the mainstream media about energy and the environment. We appreciate MasterResource for their assistance in publishing this information.
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Some of the more interesting articles in this issue are:
Wind Turbines Proven to be Threat to People’s Health
The Secret is Out: Wind is Wimpy
An Environmentalist’s Take: Blowing It On the Wind
Wind Turbines Are Killing Bats And Hurting Farmers
Stanford Report: Solar Plants Could ‘Obliterate’ Unique Ecosystems
The “uncertainty loop” haunting our climate models
How a liberal environmentalist switched from climate proponent to skeptic
US Senator Ted Cruz Reams Head of Sierra Club
EPA’s Disastrous “Clean Power” Plan
PhD: Europe’s Climate Policy Does Nothing for Climate
Top Physicist Bolts from Global Warming
Environmental activists turn up the rhetorical heat
The Only Global Warming Chart You’ll Need From Now On
Why Greenhouse Gas Theory is Wrong — An Examination of the Theoretical Basis
The IPCC’s Legion of Hacks and Dunces
The Futility and Farce of Climate Negotiations
Greed Energy Economics:
An Environmentalist’s Take: Blowing It On the Wind
AEA important new webpage: End Wind Welfare
Ten Reasons to End the Wind PTC
Wind Project Officials Differ On Need for Subsidies
Followup: Wind Energy’s True Costs
3 days plus 3 EPA regulations equals $6 billion in new costs
European Renewables Investment Heads Towards Zero
UK Wind Energy Constraint Payments
The Social Costs of Renewable Energy
Wind Projects excluded from some NY PILOT Agreements
Renewable Energy Pushes European Electricity Costs Higher
Turbine Health Matters:
Wind turbines proven to be threat to people’s health
Wind developer moves turbine at ill citizen’s formal request
Citizens file a (non-wind) lawsuit against noise and property devaluation
Renewable Energy and Environmental Matters:
Wind Turbines Are Killing Bats And Hurting Farmers
Stanford Report: Solar Plants Could ‘Obliterate’ Unique Ecosystems
Solar batteries—are they really green?…
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