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Showing posts from August, 2010

Favourite quote:

"Adam Smith identified the 'division of labour' as the great advance of the factory age. Even before machinery substituted for motive, industry increased human effort many times over, just by sub-dividing complex tasks among many. Where craftsmen were Jacks-of-all trades, the factory hand mastered one. Just by putting men under the same roof, great economies of scale were made, and human industry released from the endless reproduction of effort that came with domestic production. Instead of being dissipated, effort was concentrated. Specialised businesses for making shoes, engines, even power itself, were bound to be more efficient than attempts to achieve the same on the basis of domestic industry.

Green economics takes us backwards, reinventing cottage industry. The 'self-sufficiency' prejudice of course is the very opposite of saving, but leads to a tremendous waste of energies and raw materials. But that does not stop greens embracing self-sufficiency. Domesti…