Possibly the single most ignorant sentence on the economy I may have ever read

From The switch to green energy can be the biggest bonanza in history.

Australia is the best placed nation on earth to be the global winner in the net-zero world, with 672,000 jobs created and $2.1 trillion in economic activity generated by 2050.

In my economics text, Free Market Economics, the single most important chapter is the third, on Value Added. No other modern textbook that I know of actually discusses value added beyond a para or two, but without value added at the core of one’s grasp of economics, you will never understand a thing that matters.

Jobs can be created by getting rid of technology. Economic activity can be driven forward by useless and non-productive forms of “investment”.

But living standards can only rise if the value of output is greater than the value of the inputs used up. If you think massively increasing the cost of inputs through alternative forms of energy will increase value added, and therefore living standards, you are an economic incompetent.

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