John McCain's proposal that Uncle Sam offer a $300 million prize to whoever develops a battery that "has the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars" is silly -- as explained well by the Denver Post's David Harsanyi. (Full disclosure: Mr. Harsanyi interviewed me for his column.) Here are Mr. Harsanyi's closing paragraphs:
But when McCain peddles prize money, he also feeds the perception that industry and scientists aren't already working diligently on energy breakthroughs — with batteries and areas unknown — or that the market doesn't incentivize them to do so.
Worse, McCain makes it seem that a cure for oil is just beyond our grasp. Around $300 million away.
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Tuesday, June 24, 2008
David Harsanyi sees some silliness coming from McCain
Via Don Boudreaux, Harsanyi writes:
Labels:
campaigning,
innovation,
McCain
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