lunacy

In February 2008, airline Virgin Atlantic conducted a test flight using a biofuel made from coconut and babassu oil... During Virgin’s test flight from London to Amsterdam, the Boeing 747 consumed 22 tonnes of fuel, of which only 5 per cent was neat biofuel. Producing even that much required the equivalent of 150,000 coconuts... Had this single flight been run entirely on biofuel, it would have consumed 3 million coconuts

The standard ‘trickle-down’ argument against redistribution (through progressive taxation etc) is that instead of making the poor richer, it makes the rich poorer. However, this apparently anti-interventionist attitude actually contains an argument for the current state intervention: although we all want the poor to get better, it is counter-productive to help them directly, since they are not the dynamic and productive element; the only intervention needed is to help the rich get richer, and then the profits will automatically spread down to the poor. Throw enough money at Wall Street, and it will eventually trickle down to Main Street. If you want people to have money to build, don’t give it to them directly, help those who are lending it to them.

Keynes compared the stock market to a competition in which the participants have to pick several pretty girls from a hundred photographs: ‘It is not a case of choosing those which, to the best of one’s judgement, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligence to anticipating what average opinion expects the average opinion to be.‘ We are forced to make choices without having the knowledge that would enable us to make them; or, as John Gray has put it: ‘We are forced to live as if we were free.’

Brussels sprouts grown in Norfolk are harvested by machines with incredible wastage and efficiency, taken by lorry to a packing department in the Midlands, sent to a factory where they are washed, cleaned, sorted by size, packaged or frozen and finally sent back again to Norfolk to appear in the supermarkets, wrapped in cellophane or a dinky little net bag... A study conducted by the SAFE alliance in 1995 showed that food was travelling 50% further before it reached the supermarket than it did in the late 1970s.

The total of loans, mortgages, overdrafts and credit card purchases is massive and in Britain stands at some £780 billion, £500 of which is born by ordinary people. The Americans, supposedly the richest citizens ever to walk the face of the planet, are the most heavily indebted people of the world, carrying morgage debts that currently total $4.2 trillion.

[It is necessary to assign]... to economic activity itself its proper place as servant, not a master, of society. The burden of our civilisation is not merely, as many suppose, that the product of industry is sill-distributed, or its conduct tyrannical, or its operation interrupted by embittered disagreements. It is that industry itself has come to hold a position of exclusive predominance among human interests, which no single interest, and least of all the provision of the material means of existence, is fit to occupy. Like a hypochondriac who is so absorbed in the processes of his own digestion that he goes to his grave before he has begun to live, industrialised communities neglect the very objects for which it is worth while to acquire riches in their feverish preoccupation with the means by which riches can be acquired.