Regulation and Markets

A most odd view of markets:

New \’gas guzzling’ cars should be banned across the European Union, the former head of Shell has said.

Sir Mark Moody-Stuart said the sale of new cars which do less than 35 miles per gallon (mpg) should be outlawed for environmental reasons.

The hilarious thing is that he thinks this is a market solution:

Sir Mark, who is currently chairman of the mining group Anglo American, said his years in industry had taught him that the market would provide solutions if governments demanded them through tough legislation.

The point being of course that a legislative solution is not a market solution.

5 thoughts on “Regulation and Markets”

  1. “Sir Mark said the rich should not escape their responsibility to tackle climate change: “It is a social thing. We don’t say the wealthy can avoid doing what is needed by society.”

    Yeah, Al Gore is doing his bit, eh, Sir Mark…?

  2. Say I want to buy a Ferrari (ok I’m being hypothetical) to park in my drive and make me feel good about myself. I will drive it once a month, to impress the ladies. My petrol consumption will be far less than many smaller engined cars. Yet I am the devil incarnate?

    Bansturbation is for people who are too intellectually challenged to think.

    As a chairman of a huge company, I am sure his spending and therefore carbon footprint is huge. But no doubt he does not have an interest in matters automotive, so he wants them banned…

  3. Pingback: Of Interest « Thoughts on Freedom

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