If, due to fears over climate change, a heavy regulatory/fiscal burden is imposed on the private sector the chances are that this will favor larger companies over small (the former will find it easier to defray the costs involved). This bit of news is, therefore, anything but:”150 global business leaders call for legally binding UN framework to tackle climate change On 30th November 2007, the business leaders of 150 global companies published a communiqué to world leaders calling for a comprehensive, legally binding United Nations framework to tackle climate change. The initiative represents an unprecedented coming together of the international business community and includes some of the biggest companies and brands from around the world, including the United States, Europe, Australia and China.”
What was it that Adam Smith said? Ah yes,this:
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
Or, for that matter, restrict competition.
I note with amusement, but without surprise, that this whole “Bali Communique” is the result of an initiative arranged by Prince Charles, a man whose nostalgia for the pre-industrial past knows few limits, but whose commonsense has all too many.