Writing on AEI, economist Ben Zycher has a devastating piece on the crusade to get as many institutions as possible to “disinvest” from fossil fuels.
I particularly liked his point that many rich people are glad to trade off some of their money in favor of adulation by leftist politicians, the press, and the moralizers of the movement. That’s equally true when it comes to politics, where many wealthy people gladly ladle money into the coffers of the Democratic Party. The Democrats are resolutely anti-capitalist and put up all kinds of barriers to success for individuals trying to start businesses. If you’re already rich, who cares? Why worry about the travails of such people when you can enjoy dinner parties with Obama and other beautiful people?
