The WSJ argues that climate litigation is both frivolous, anti-business, and sets and a dangerous precedent leading to an anarchic world. Yet, a long history of litigation suggests that society is better for it. Despite the costs involved, the principle should simply be to let the truth prevail.
Here is another lesson to be drawn from the experience of the OLPC XO series. Don’t take Nicholas Negroponte seriously. Even he doesn’t.
Proponents of the OLPC assert that it is “changing education”, transforming students into self-learners, and making “discussions about whether to have computers in the classroom” obsolete. But in a world where schools still struggle to have a building and a blackboard, surely such enthusiasm is overstated.
Investors in the stock market know they can both loose and gain money. Entrepreneurs accept the same principle when setting up companies. Why should executives be different? To make compensation work and be fair, bonuses for good performance should be matched by actual penalties for poor performance.
The catalytic philanthropist seems to have arrived. But is that a good thing? By putting faith in individuals is society not delegating responsibility for improving its lot to wealthy individuals rather than to the elected representatives that are usually mandated that task?
Financing for global public goods remains dangerously low. Yet the Gates Foundation shows there is a case for an international institution to invest in the needs of developing countries. Subramanian suggests the World Bank should do this – will the developed world agree?
The WSJ report of too much microfinance raises a dangerous parallel with the subprime crises. It is time that social investors scaled back their optimism on the impact of microfinance and its investment potential. As this crises has shown, endless growth cannot be without consequence.
The Indian Solar Mission is an example of a developing country attempting to decouple growth from carbon emissions. But if developed countries want concerted action on climate change it is time they put their money where their mouth is. Then we can start defining a post-Kyoto framework.