Peter Suderman (Reason.com) takes a look at Investor's Business Daily's of "President Obama's promise to create five million "green jobs" over the next decade. So far, quite a lot of stimulus money has been spent attempting to encourage enviro-work. But there hasn't been a lot of progress, and in a number of cases, the money appears to have been blown on projects that are clearly wasteful or doomed to failure." xamination
Suderman adds, "As the job-creation rhetorical wars reach threat level five in Washington, it's worth remembering that the problem with jobs initiatives, green and otherwise, is that creating sustainable, productive jobs—the kind of employment that lasts and adds to the nation's productivity—is a hard thing to do. And there's no reason to think government bureaucrats, torn by a mob of competing political interests, are going to be somehow better at it than private sector operators. If creating productive employment were straightforward, wouldn't the private sector already be doing it? After all, you don't see most companies turning down opportunities to profit. Which is one of the many reasons why these fantasy jobs initiatives dreamed up in Washington frequently don't hit near the jobs numbers they promise, and why, when it comes to stimulus spending, the administration ends up leaning on totally unverifiable job-creation estimates to justify its spending. Lots more from Reason on green jobs here, here, and here. "
(h/t: Peter Suderman/Reason.com)