[Irtalk] Bill Gates Explains Why Only Socialism Can Save the Climate

Hilton Gibson hilton.gibson at gmail.com
Thu Oct 29 11:22:50 SAST 2015

In a recent interview with The Atlantic, billionaire tech magnate Bill
Gates announced his game plan to spend $2 billion of his own wealth on
green energy investments, and called on his fellow private sector
billionaires to help make the U.S. fossil-free by 2050. But in doing so, *Gates
admitted that the private sector is too selfish and inefficient to do the
work on its own, and that mitigating climate change would be impossible
without the help of government research and development.*

“There’s no fortune to be made. Even if you have a new energy source that
costs the same as today’s and emits no CO2, it will be uncertain compared
with what’s tried-and-true and already operating at unbelievable scale and
has gotten through all the regulatory problems,” Gates said. “Without a
substantial carbon tax, there’s no incentive for innovators or plant buyers
to switch.”

Gates even tacked to the left and uttered words that few other billionaire
investors would dare to say: government R&D is far more effective and
efficient than anything the private sector could do.

*“Since World War II, U.S.-government R&D has defined the state of the art
in almost every area,” Gates said. “The private sector is in general


*​A great example for advocating government funded research that should
then be made openly accessible!​*
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