Letters from an American October 26, 2025
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Oct 27, 2025 The podcast dives into the transformative power of renewable energy, highlighting Krugman's views on how subsidies have driven solar and wind growth. It explores the geopolitical stakes of green energy, particularly China's lead in the sector. Historical connections are made to Alexander Hamilton's advocacy for government-led innovation, and the crucial role of waterways in early America’s trade is discussed. The Erie Canal's construction story illustrates economic integration, cultural shifts, and its lasting impact on U.S. infrastructure.
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Virtuous Circle Driving Renewable Growth
- Paul Krugman argues renewables grew through a virtuous circle of falling costs and rising production.
- Government subsidies and investment enabled that cycle and made renewables competitive with fossil fuels.
Renewables' Rapid Market Momentum
- Solar and wind produced 15% of global electricity in 2024 and led most recent growth.
- Krugman and Richardson say green energy will keep expanding despite political opposition.
Early Push For Waterways And Unity
- George Washington and early leaders aimed to open inland waterways to boost trade and national cohesion.
- A 1786 meeting in Annapolis led delegates to call for a constitutional convention to strengthen federal power for such projects.