Seven Australian governments have made a mess of Australia's electricity industry.  The federal government now plans to add more toxins to the mess: "five-year targets to cut emissions." There was one big lesson from the 20th century: coercive central planning always fails.  It constantly destroys economic assets and human freedom.  Just look at the human and economic costs of the grand plans of Stalin's Russia, Hitler's Germany, Mao's China, Castro's Cuba, and Pol Pot's Cambodia.  Or compare East and West Germany when the Berlin Wall came down or North and South Korea now. The International Tin Council almost destroyed the tin industry.  Australia's failed Wool Board delivered unearned profits to our overseas competitors, and wool-growers took years to clear up the mess.  Australia has had egg boards, milk boards, and grain boards, and all produced sinecures for board members,...(Read Full Post)