Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Saturday, May 5, 2012

The $20 note that doesn't exist

Some people reject new systems and technology saying, "If it worked it would already have been done".

This is like the economist who says that the twenty dollar note lying on the pavement doesn't exist, because if it were there, someone would already have helped themselves.

We are in the midst of a massive decarbonisation of world economies that is bringing rapid and dramatic changes to technology and systems. Things that weren't feasible 10 years ago are not only possible now, they are highly desirable. Look at how affordable solar PV has become.

Note: 'Today' = 2009. Source Emmanuel Sachs (MIT)

To see a $20 note on the ground, we only need to open our eyes. To decarbonise the economy we have to look for opportunities, not obstacles.

Thanks to Jonathon Maddox for this metaphor.

Thursday, May 3, 2012

Windmills move air like banks move money

Moving money from one money box to another will not make you richer.

Windmills move air around, they don't make it warmer.

A recent study showed that overnight ground temperatures near windmills were a little higher (0.72 C in winter) than otherwise. This phenomenon is well known by orchardists who sometimes prevent frosts by hiring helicopters to hover over their trees and keep the air moving.

The study found that daytime temperatures were not affected. So it appears that the windmills are just moving air around, like a kid moving coins from one money box to another.

This picture shows clouds formed in the wake of Denmark's Horns Rev windfarm – one of the world's largest at sea. While wind turns the turbines, the turbines also change the patterns of air movement.

Source: Aeolus on the Guardian

Scott Mandia used the banking analogy when he debunked the claim (in comments) that windmills cause global warming.