While self-driving cars will come to change the world and make it a better place, electric cars will not. At least, not in the near term. It turns out that – even with massive government subsidies – nobody wants these vehicles.
Electric cars are a step in the wrong direction – they make the world a worse place. They are less efficient than traditional gas-powered automobiles (don’t believe me…just look at the price, the single most concise and accurate estimate of the total economic impact of producing anything). And being less efficient, they are – in the mantra of the environmental movement – necessarily worse for the world.
Note that this is also the story of how hard business is. Automakers bet big on electric vehicles. Nobody bought these vehicles; the future is hard to predict; markets are hard to predict. Now, those automakers have to abandon their efforts. This is expensive. In order to survive such mistakes, the victories have to be big. Companies need to make a lot of money because they usually always, at some point, end up losing a lot of money. Taxes on profits discourage risk taking because they make it very difficult to survive the loses. Taxing success is a good way to ensure that the world never gets better – that the world stagnates.