Ed. note: MasterResource is closely associated with the worldview and example of Julian Simon (1932–1998). But a second influence would certainly be that of economist Ludwig von Mises (1881–1973), born on this day 140 years ago.

Below, Robert Bidinotto’s “Von Mises: A Final Salute.” Unbound! Boston: Individuals for a Rational Society 2, no. 1 (September-October 1973): 1–2 is reprinted with permission of the author.

A surprisingly fair obituary in the New York Times (October 11, 1973) follows that of Bidinotto below. I then conclude with a final observation.

“The scope and content of von Mises’ work boggle the imagination. He was easily the greatest economist of this century, and the list of his original achievements in that science rivals that of anyone since Adam Smith.”

Our age may well be labeled by future historians as “the Age of Mediocrity.”…

It is past time that Wiki correct a significant factual error and tone down the bias of its entry for The Institute for Energy Research. I and others have failed to persuade them. This post is dedicated to the same attempt at fairness.

In my social media discussions and debates, my opponents do a quick check on the Institute for Energy Research (IER) to fire back at my criticisms. One from this week follows, an exchange prompted by a mention of “Deadwood Releasing 10.9 Gigatons of Carbon Every Year – More Than All Fossil Fuel Emissions Combined“:

Bradley: Leave fossil fuels alone then…. Energy density is key.

Paul Bryan: EXACTLY the fallacious argument that the propaganda was designed to promote. Well done! But hardly surprising coming from IER:

“IER is often described as a front group for the fossil fuel industry. It…

Ed. Note: This interview with Robert L. Bradley Jr. by Jane Shaw Stroup appeared earlier this week at the Liberty and Ecology website of the Goodman Institute for Public Policy Research. Comments are welcomed, including new questions to clarify the role of nuclear power in a free economy.

Q1. What role should nuclear power have in the years ahead?

A. “Let the market decide” is the straightforward classical-liberal, free-market answer. This means government neutrality in terms of not subsidizing or penalizing one energy technology versus another to determine what, when, where.

The decision to build new capacity, or the decision to operate-versus-retire, should be based on stand-alone economics, without government favor or penalty.

Q2. Under this standard, what is the future of nuclear in the energy mix as far as new capacity?…

“You may be right. I have stated earlier that the ERCOT market’s reliance on scarcity pricing did not foresee an environment with high penetration of zero-marginal cost resources. Back in 2005 I generically simulated an energy-only market to demonstrate how scarcity pricing would work. I never anticipated the mass introduction of renewables at that time.”

— Robert Borlick, electricity expert (below)

The once-proud, sturdy Texas electric grid is under severe stress–yet again.

Growing demand (electricity is life!), hot (almost) summer weather, and disappearing renewables (wind in the day, solar at night) have exposed a wounded grid.

The wounds are evident in prematurely retired natural gas and coal generation capacity, as well as a lack of new capacity. Why? Renewable energy severely diminished incentives for baseload generation that would have prevailed without (government-enabled) wind and solar capacity.…