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One generation does not have the right to determine availability for ever." Soon after helium mining was developed at the turn of the previous century, the US established a National Helium Reserve in 1925.
During the Second World War, helium was strategically important because of its use in military airships.
A good example of such a narrative in the British context might be popular opposition to the admittance of Syrian child refugees on the false belief, pushed hard by the right-wing media, that they are all really adults pretending to be children.
“Economics is fundamentally a moral and philosophical science, embedded in the larger social sciences,” Mr Tirole said, urging other economists in the audience to join in the project of trying radical new approaches.
“We don’t do God,” Tony Blair’s press secretary, Alistair Campbell, once famously remarked. They are a breed concerned with economic efficiency not spiritual uplift; human choices and incentives, not human values.
But even more thoughtful and less dogmatic economists have tended to shy away from the question on the grounds that moral values are tricky to pin down, much less quantify.That’s not to say that their research agendas have not supported “moral” agendas.They often expose market failures which harm the less well-off.It remains to be seen whether this particular research agenda gets anywhere.There are plenty of holes that one can pick in the very simple models presented by Hart and Tirole and the broad-brush assumptions they make about people’s decision-making processes – something they both readily acknowledged.
"In 1996, the US Congress decided to sell off the strategic reserve and the consequence was that the market was swelled with cheap helium because its price was not determined by the market.