My tale of me - Chris Jenkinson

I’ve just finished reading (online) a book called “Sustainable Energy - Without the Hot Air“, by Professor David McKay from the University of Cambridge. It’s an insightful guide about energy consumption and renewable energy production, and the options available to policy and decision-makers. It’s an important read - and is clear and consise (and witty). It’s not feel-good, it’s not easy, but it is fascinating.

In case you’re wondering whether it’s more environmentally friendly to read it online, or buy a paper copy - it depends how fast a reader you are! If you’re a fast reader or will use a laptop, go with online, otherwise there’s no real difference.

One of my favourite paragraphs:

One of the main sinks of energy in the “developed” world is the creation of stuff. In its natural life cycle, stuff passes through three stages. First, a new-born stuff is displayed in shiny packaging on a shelf in a shop. At this stage, stuff is called “goods.” As soon as the stuff is taken home and sheds its packaging, it undergoes a transformation from “goods” to its second  form, “clutter.” The clutter lives with its owner for a period of months  or years. During this period, the clutter is largely ignored by its owner,  who is off at the shops buying more goods. Eventually, by a miracle of modern alchemy, the clutter is transformed into its final form, rubbish. To the untrained eye, it can be difficult to distinguish this “rubbish” from the highly desirable “good” that it used to be. Nonetheless, at this stage the discerning owner pays the dustman to transport the stuff away.

I’ve just finished reading the book “The Undercover Economist”, by Tim Harford. Definitely an informative book and well worth reading carefully and critically. It rightly makes the point that those of us who are “capitalists” do not defend “big business” (which want limits on competition) but instead defend open and free markets (which ensure competition). It also serves as a reminder that many of the problems countries in sub-Saharan Africa and other lesser economically developed regions face is not “free trade” but instead protectionism inside developed countries (such as the EU’s Common Agricultural Policy) and corruption which stifles entrepreneurial spirit.

The book also contains an interesting section towards the end about how sweat shops (factories run by large multinational corporations in Southeast Asia, with worse working conditions and wages than in Western countries) are actually an improvement in working conditions for people who are employed there, and that Western calls to boycott companies making products in sweat shops are severely misplaced and cause actual harm to workers. I’m not entirely convinced by this argument so some recommended reading on sweat shops would be appreciated!

It’s not a stereotypical “dry” economics textbook, it contains real-world examples of applications of economic theory, and isn’t at all hard to understand for someone without any formal instruction in the field. Harford also has a new book, “The Logic of Life”, which is available now.