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The Forum > Article Comments > Nuclear is for Life: a cultural revolution > Comments

Nuclear is for Life: a cultural revolution : Comments

By Tom Quirk, published 8/2/2016

The simple central message of this book is that we have been mistaken about the hazards of nuclear power. Some of this has been willful and some well intentioned.

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As always Rhosty you're full of it!

Obviously you've heard the myth that borrowing money from your own central bank is the same as printing money and causes hyperinflation. But if you look at what happened in Zimbabwe, you'll find there were several contributors to their economic collapse, none of which is even remotely related to what I'm proposing:

• Zimbabwe effectively declared war on what was by far its most productive industry: agriculture. White farmers were regarded as enemies of the state, and their farming operations disrupted, further reducing productivity at a time when agricultural output was already down due to drought.
[I'm not declaring war on any industries. I would like to see the coal industry phased out, but gradually and in a way that lets other industries replace it]

• At the same time, Zimbabwe implemented a policy of economic nationalism, making it harder for foreign companies to invest in Zimbabwe.
[I've got nothing against foreign investment and would like to see some of the existing restrictions lifted, though I'd also like to see a broad based land tax which would ensure that all Australians benefit from the foreign demand for our land]

• Despite this, Zimbabwe had a fixed official exchange rate, which (despite official devaluations) they kept above the market rate.
[Fixed exchange rates are unequivocally a bad thing, as they prevent the market from correcting trade imbalances and they introduce the danger of running out of money]

• Meanwhile, Zimbabwe was wasting a lot of money fighting in a war in the Congo.
[Wars nowadays are never productive, so are always bad for the economy, but the economic effects are much worse with a fixed exchange rate]

• Zimbabwe was also indebted to the IMF, and printed money to sell internationally to repay overdue debt (a sure way to trigger hyperinflation).
[We have no such debt as the Australian government does not borrow in foreign currencies. That's been general policy since the 1980s and absolute policy since the 1990s]

{TBC}
Posted by Aidan, Tuesday, 9 February 2016 1:21:28 PM
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Rhosty {continued}

• Zimbabwe resorted to physically printing money.
[In countries such as Australia, where central banks pay a positive interest rate on reserves, borrowing from your own central bank is sometimes regarded as printing money, but in reality the overall effects aren't significantly different from borrowing from any other domestic source. Alternatively, excess reserves can also be drained by issuing government bonds]

• Zimbabwe kept printing money to finance a huge budgetary deficit
[I think the government should run surpluses when there is high inflation and/or high interest rates]

The biggest similarity between what I'm proposing and what happened in Zimbabwe is that they were both misunderstood by you when you jumped to conclusions about causes and effects.

Duplication of infrastructure increases capital costs, and increasing capital costs is at best an inefficient way to bring down prices.
Posted by Aidan, Tuesday, 9 February 2016 1:22:22 PM
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579, I think you will find that the after effects of Fukushima are minimal and things are returning to normal. I suggest you read
http://www.forbes.com/sites/jamesconca/2015/03/16/the-fukushima-disaster-wasnt-very-disastrous/#5fd9e3ec51e7

David
Posted by VK3AUU, Tuesday, 9 February 2016 4:15:09 PM
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Nuclear is far cheaper and stable than solar thermal, and for a replacement for coal is the only really feasible solution.
Posted by Shadow Minister, Wednesday, 10 February 2016 6:54:43 AM
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Tom Quirk's article opens with:

"The South Australian Royal Commissioners looking into nuclear energy and politicians both state and federal should read Nuclear is for Life by Wade Allison. It is a "tour d'horizon" of the scientific understanding of radiation and the human body. It should also be read by all the NGO and green activists who assembled in Paris last November in the City of (nuclear) Lights.

The simple central message of this book is that we have been mistaken about the hazards of nuclear power. Some of this has been willful and some well intentioned."

For those interested, I'd recommend watching this video by Wade Allison: https://www.youtube.com/watch?v=YZ6aL3wv4v0
Posted by Peter Lang, Wednesday, 10 February 2016 9:13:14 AM
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