On the contrary, present policies, including taxes and safety regulations, are creating incentives in the market for energy that discriminate against fuel cells and in favour of traditional fossil fuels.

ECONOMIST: Stepping on the gas

Many regulations will simply impose costs, but some will present opportunities.

FORBES: McKinsey Finds Bankers Pretty Complacent. Why?

But, as Mr Meltzer notes, fairness often means providing present benefits using debt that must be repaid by taxpayers in the future (which is hardly fair) or through regulations and subsidies created by people in government who then go on to exploit them in private-sector jobs (which is also unfair).

ECONOMIST: For those who have lost faith