Home > Facts and Figures, History Repeating Itself > The Wall Street Journal reports on the jobs failure of green subsidies

The Wall Street Journal reports on the jobs failure of green subsidies

Subsidies are well known to distort economies, to pick winners and losers outside of the context of real people’s real wants, and to entrench bureaucratic graft and corruption. At each turn, however, those same subsidies were justified by their supposed ability to “create jobs.” In fact, much of Frederic Bastiat’s seminal “What is Seen and What is Not Seen” was crafted to counter just such claims.

However, the Wall Street Journal (behind a paywall) has recently reported that even these job claims might be nothing more than a fiction.

On federal applications, companies said they created more than 100,000 direct jobs at 1603-funded projects. But a Wall Street Journal investigation found evidence of far fewer. Some plants laid off workers. Others closed.

…Jobs figures reported by grant recipients were full of errors, the Congressional Research Service said in a report last year: “Thus it is recommended that any job creation estimate be viewed with skepticism…

Somehow, I do not find this surprising.

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