On the subject of the liability cap that protects the U.S. nuclear industry The Rational Optimist observes:
That's exactly the problem with crony capitalism, whether in finance or energy or anything else. The `market' and `capitalists' are not on the same side and against `government'. No, its government and capitalists colluding against the market, which is on the side of the people. The `financial market' proved to be no such thing; it was a casino for favoured clients run by central banks. The `energy market' is no such thing. It is a scheme run by governments for favoured clients in the nuclear, renewable and environmental-pressure group industries.
Here is a balanced perspective on the Japanese nuclear industry that sheds light on how their plants suffered the damage from the earthquake and tsunami.
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