Britain’s last nuclear power plant was built between 1987 and 1995. Its next one, Hinkley Point C, is between four and six times more costly per megawatt of capacity than South Korean nuclear power plants, and four times as expensive as those that South Korea’s KEPCO has agreed to build in Czechia.
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Even the national political press seems to be getting a bit exasperated at this, if only out of a creeping sense that she might blow the election to Trump, combined with a bit of frustration that she’s making their jobs harder in having to not only carry her water but fill the buckets themselves. Maybe Trump’s well-known flaws will rescue her anyway by Election Day, but if not, it’s going to be a long four years with a president whose only real interests are in culture-war hot buttons.--McLaughlan
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Nobel
The Royal Swedish Academy of Sciences awarded the Nobel Memorial Prize in Economic Sciences to three economists. The recipients are Turkish-born Daron Acemoglu and British-born Simon Johnson, both of the Massachusetts Institute of Technology, and British-born James A. Robinson, an economist and political scientist at the University of Chicago. They received the award “for studies of how institutions are formed and affect prosperity.”
in their 2012 book, “Why Nations Fail,” Messrs. Acemoglu and Robinson divide countries into two types: extractive and inclusive. In extractive countries, a small elite extracts wealth from the masses, whereas in inclusive countries, political power is shared. When governments are extractive, people have little incentive to produce. But the opposite is true when governments are inclusive, as people have property rights and can accumulate wealth.--wsj
And McCloskey''s minority report:
His [Daron Acemoglu’s] theory, which is both, fits smoothly with what people nowadays love to hear, on their road to serfdom—that good policy is super easy and that our masters are super skilled at doing it. The theory makes us feel safe, like children waiting to be fed. We don’t individually need good ethics, professionalism, or high political ideals. Mama and Papa State take care of all that.
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Nobel
The Royal Swedish Academy of Sciences awarded the Nobel Memorial Prize in Economic Sciences to three economists. The recipients are Turkish-born Daron Acemoglu and British-born Simon Johnson, both of the Massachusetts Institute of Technology, and British-born James A. Robinson, an economist and political scientist at the University of Chicago. They received the award “for studies of how institutions are formed and affect prosperity.”
in their 2012 book, “Why Nations Fail,” Messrs. Acemoglu and Robinson divide countries into two types: extractive and inclusive. In extractive countries, a small elite extracts wealth from the masses, whereas in inclusive countries, political power is shared. When governments are extractive, people have little incentive to produce. But the opposite is true when governments are inclusive, as people have property rights and can accumulate wealth.--wsj
And McCloskey''s minority report:
His [Daron Acemoglu’s] theory, which is both, fits smoothly with what people nowadays love to hear, on their road to serfdom—that good policy is super easy and that our masters are super skilled at doing it. The theory makes us feel safe, like children waiting to be fed. We don’t individually need good ethics, professionalism, or high political ideals. Mama and Papa State take care of all that.
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