Imagine that -- an economist who doesn't assume that you can get something for nothing.
Since then, Calzada has been proven right in nearly every metric. Spain has a serious sovereign debt crisis -- not helped much by its commitment of 11 percent of Spain's gross domestic product to subsidize renewable energy. The renewables program will cost the Spanish crown four times what it had originally budgeted.
The government is trying to wiggle out of its already-promised subsidies, which could generate legal problems or else a banking collapse. Unemployment in Spain exceeds 20 percent. Spanish industry is paying inflated prices for energy -- causing greater inefficiency and more job losses.
Speaking with me this week, Calzada expressed amazement that in the wake of his own nation's failure in this area, a few progressive members of Congress still want to drive the United States off the same cliff.
"How is it possible, having the example of Spain. ... Why would you like to repeat the same story?"
Read more at the Washington Examiner: http://washingtonexaminer.com/opinion/columnists/2011/08/green-jobs-promise-something-nothing#ixzz1WhucMjs7
Since then, Calzada has been proven right in nearly every metric. Spain has a serious sovereign debt crisis -- not helped much by its commitment of 11 percent of Spain's gross domestic product to subsidize renewable energy. The renewables program will cost the Spanish crown four times what it had originally budgeted.
The government is trying to wiggle out of its already-promised subsidies, which could generate legal problems or else a banking collapse. Unemployment in Spain exceeds 20 percent. Spanish industry is paying inflated prices for energy -- causing greater inefficiency and more job losses.
Speaking with me this week, Calzada expressed amazement that in the wake of his own nation's failure in this area, a few progressive members of Congress still want to drive the United States off the same cliff.
"How is it possible, having the example of Spain. ... Why would you like to repeat the same story?"
Read more at the Washington Examiner: http://washingtonexaminer.com/opinion/columnists/2011/08/green-jobs-promise-something-nothing#ixzz1WhucMjs7
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