The Associated Press recently dug up some “experts” to diss President Donald Trump as being too nasty for the Nobel Peace Prize, since he -- gasp -- "does not believe in climate change." But one of the recipients of the elitist honors in the Nobel Economics Prize is is a climate-obsessed economist who advocates a distorted concept of “creative destruction” through green policies to wreck the fossil fuel industry.
Climate organization Heatmap reported October 13 that Nobel winner Philippe Aghion views “carbon taxes” as just one instrument in a tool box to force the economy into a climate-friendlier era.
Heatmap wrote that in a 2023 interview, Aghion viewed government “subsidies to green innovation, and more generally green industrial policy” as other necessities for a supposedly effective climate transition. As Heatmap summarized, “Aghion argues that climate policy needs to hit hard and hit quickly, precisely to induce the kind of competitive innovation that he thinks drives economic growth. ‘If you wait longer, firms will be even better at dirty technologies, and it will take longer before their skills on clean technologies catch up with their skills on dirty technologies, and so you need to act promptly,’ he said in 2023.”
Bastardizing economist Joseph A. Schumpeter’s “creative destruction” theory built from a reliance on capitalist market forces by shoe-horning government policies into an attempt to dismantle an entire industry that American consumers rely on for energy doesn’t really sound Nobel-worthy. That’s, of course, if you take out the fact that the Nobel Committee itself is a collective of eco-fanatics masquerading as unbiased judges.
Apparently the Nobel is just primarily earmarked for snobby academics and leaders who despise fossil fuels. Good grief:
Aghion’s work supports this kind of "belt-and-suspenders" approach to climate policy, where fossil fuel emissions are made more expensive and subsidies are provided to advance green innovation.
But nobody should be surprised. After all, the Nobel Committee once gave a prize to former Soviet Union leader Mikhail Gorbachev as the Cold War ended, but not to President Ronald Reagan. In fact, as NewsBusters executive editor Tim Graham pointed out, “Republicans haven't been honored since Henry Kissinger in 1973.” This is also the same Committee that gave then-President Barack Obama a prize in 2009 for doing — well, nothing really. Do lefty outlets like AP care? Of course not.
Heatmap even noted that Aghion saw President Biden’s disastrous $739 billion "Inflation Reduction Act" as "a real life version of his ideas.” The CATO Institute estimated March 11 that the IRA’s ridiculous green subsidy provisions “will cost between $936 billion and $1.97 trillion over the next 10 years, and between $2.04 trillion and $4.67 trillion by 2050.”
This isn't a "level playing field" of market competition. It's using trillions of taxpayer dollars to force energy "progress."
In honoring Aghion and trashing Project 2025, the left mangles the facts beyond recognition: "The choice isn't between regulation and freedom. It's between stagnation and innovation. Let's back the disruptors. Let's move forward."
