Clean Energy's Dirty Secret
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Time to be tougher on Iran The man who would beat Le Pen Should robots pay tax? The last diamond mine FEBRUARY 25TH–MARCH 3RD 2017 Clean energy’s dirty secret Contents The Economist February 25th 2017 5 8 The world this week Asia 31 Women in South Asia Leaders The missing middle 11 Renewable energy 32 Mongolia’s finances Clean energy’s dirty secret This might yurt 12 Gender budgeting 32 Security in Pakistan Making women count Role reversal 12 Brazil’s pensions 33 Mining in South-East Asia Geronto-generosity Shafted 13 Iran and America 34 Buddhism in Thailand The challenger to Le Pen No blank cheque The missing monk 35 Banyan Emmanuel Macron has gone 14 Diamonds and marriage from no-hoper to a serious A girl’s new best friend The Philippine pivot to China candidate. Now comes the On the cover hard part, page 43. Populists The renewables revolution is Letters are on a roll, but Marine Le Pen wrecking the world’s China faces an uphill battle, page 15 On Kenya, American law, electricity markets. Here’s 44. Martin Schulz breathes voting, Russia, data 37 Punishing North Korea how to fix them: leader, page Of killers and coal new life into Germany’s Social 11. Wind and solar energy are Democrats, page 45 38 Ethnic harmony disrupting a century-old Briefing Tourism in the troubled approach to providing 18 Renewable energy west electricity, pages18-20 A world turned upside down Middle East and Africa The Economist online 39 Iran and America United States Daily analysis and opinion to A new confrontation 21 Environmental protection supplement the print edition, plus 40 Western Sahara audio and video, and a daily chart Revenge of the polluters The never-ending dispute Economist.com 22 A new NSA 41 South Africa E-mail: newsletters and McMaster and servant Letting the mentally ill die mobile edition 23 Replacing Obamacare 41 The battle for Mosul Economist.com/email Cost-sharing is caring Raging Diamonds The sparkling Print edition: available online by 23 Deporting migrants 42 Education engagement ring may not 7pm London time each Thursday Dragnet and scissors Lessons from Liberia have a future as a symbol of Economist.com/print 24 The Democrats courtship: leader, page 14. De Audio edition: available online Boot-edge-edge Beers is ramping up production Europe to download each Friday 25 Wrongful convictions at a giant new project in Economist.com/audioedition Criminal injustice 43 France’s Europhile Canada. It could be the world’s candidate last big diamond mine, page 50 26 Lexington Macron on the march Dissent in the age of Trump 44 Mme la Presidente? Marine Le Pen’s odds The Americas 44 Western Balkans Volume 422 Number 9029 27 Brazil’s pensions Russian overtures Stop showering the old 45 The German left is back Published since September1843 with gold to take part in "a severe contest between SPD recovery intelligence, which presses forward, and 28 Protecting wildlife an unworthy, timid ignorance obstructing 46 Charlemagne our progress." Saving jaguars The armies of Europe Editorial offices in London and also: 28 Chile’s plutocrats Atlanta, Beijing, Berlin, Brussels, Cairo, Chicago, Bashing billionaires Lima, Mexico City, Moscow, Mumbai, Nairobi, New Delhi, New York, Paris, San Francisco, 30 Bello São Paulo, Seoul, Shanghai, Singapore, Tokyo, The costs of crime Iran The Trump administration Washington DC is right to keep up the pressure on a belligerent force in the Middle East: leader, page 13. How far is America prepared to go? Page 39 1 Contents continues overleaf 6 Contents The Economist February 25th 2017 Britain Science and technology 47 Reducing immigration 67 Space weather Keep out Tales of wonder 48 Agriculture and Brexit 68 Asthma Picking fights Four good bugs 49 Bagehot 68 Oceanography What next for Remainers? Fruits de mer 69 Epidemiology International Snap! 50 The last diamond mine 70 Peopling the Americas Women Powerful female Norma McCorvey The “Jane The future of forever Checkpoint politicians in South Asia have Roe” of Roe v Wade, America’s not empowered the women who most controversial court vote for them, page 31. An idea Business Books and arts decision: Obituary, page 78 to make governments live up 53 The semiconductor 71 International corruption to their promises to women: Jackpots for despots industry Subscription service leader, page12. A mechanism Silicon crumble 72 Sleeper trains to generate policies that For our latest subscription offers, visit 54 3G’s model End of the line Economist.com/offers support equality between men Barbarians at the plate 72 “Les Misérables” For subscription service, please contact by and women is good for growth, telephone, fax, web or mail at the details Novel of the century page 65 55 Independent films provided below: Indie blues 73 Richard Holmes North America The Economist Subscription Center 55 Toy companies in Japan Romantic biographer P.O. Box 46978, St. Louis, MO 63146-6978 A grown-up business 74 Boris Nemtsov, the movies Telephone: +1 800 456 6086 Facsimile: +1 866 856 8075 56 Aarusha Homes A future that wasn’t E-mail: [email protected] Room to grow Latin America & Mexico The Economist Subscription Center 57 French entrepreneurship 76 Economic and financial P.O. Box 46979, St. Louis, MO 63146-6979 Deep-tech startups indicators Telephone: +1 636 449 5702 Facsimile: +1 636 449 5703 58 Schumpeter Statistics on 42 economies, E-mail: [email protected] Tech-firm valuations plus a closer look at Subscription for 1 year (51 issues) sovereign-wealth funds United States US $158.25 (plus tax) Canada CA $158.25 (plus tax) Finance and economics Obituary Latin America US $289 (plus tax) Kraft Although their bid 59 Fintech in China The age of the appacus 78 Norma McCorvey failed, the investors who took Roe v Wade’s Jane Roe Principal commercial offices: on Unilever are nevertheless 62 Trade statistics 25 St James’s Street, London sw1a 1hg upending the food industry, Lies, damned lies and… Tel: +44 20 7830 7000 page 54 62 Securitisation in Europe Rue de l’Athénée 32 Limping along 1206 Geneva, Switzerland Tel: +4122 566 2470 64 Fannie Mae and 750 3rd Avenue, 5th Floor, New York, NY 10017 Freddie Mac Tel: +1212 5410500 Still possessed 1301Cityplaza Four, 65 Feminism and fiscal policy 12 Taikoo Wan Road, Taikoo Shing, Hong Kong Gender budgeting Tel: +852 2585 3888 66 Free exchange Other commercial offices: Chicago, Dubai, Frankfurt, Los Angeles, Should robots pay tax? Paris, San Francisco and Singapore Robots A tax on automation is an intriguing but misguided solution to workers’ woes: Free exchange, page 66. Three tests for telling whether tech firms are in a bubble: Schumpeter, PEFC certified page 58. Artificial intelligence This copy of The Economist is printed on paper sourced is creating variety in the chip from sustainably managed market and trouble for Intel, forests certified to PEFC page 53 PEFC/29-31-58 www.pefc.org © 2017 The Economist Newspaper Limited. All rights reserved. Neither this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of The Economist Newspaper Limited. The Economist (ISSN 0013-0613) is published every week, except for a year-end double issue, by The Economist Newspaper Limited, 750 3rd Avenue, 5th Floor, New York, N Y 10017. The Economist is a registered trademark of The Economist Newspaper Limited. Periodicals postage paid at New York, NY and additional mailing offices. Postmaster: Send address changes to The Economist, P.O. Box 46978, St. Louis , MO. 63146-6978, USA. Canada Post publications mail (Canadian distribution) sales agreement no. 40012331. Return undeliverable Canadian addresses to The Economist, PO Box 7258 STN A, Toronto, ON M5W 1X9. GST R123236267. Printed by Quad/Graphics, Saratoga Springs, NY 12866 8 The world this week The Economist February 25th 2017 failing to declare that he had José Serra resigned as Brazil’s terrorism ofthe other leader of Politics rented a flat in the Chinese city foreign minister, because of the party. The trial also began ofShenzhen from a major health problems. He was twice of47 formersoldiers for shareholder in a broadcast an unsuccessful candidate for alleged involvement in last company that Mr Tsang the presidency. years’ coup attempt. approved licences for. The last redoubt Tightening the border Iraq’s army launched its main America’s Department of assault on western Mosul, Homeland Security published having captured the eastern guidelines to implement halfofthe city from Islamic Donald Trump’sexecutive State last month. The fighting order cracking down on illegal in the western halfis expected immigrants. Among other to be harder. In Syria, Kurdish things, the new rules make it groups advanced against IS much easier to deport people positions in the country. A series ofterrorist attacks who cannot prove they have struckPakistan, including one been living in the United States An Israeli soldier who killed a on a Sufi shrine that killed 88 for two years. wounded Palestinian attacker Britain’s Brexit bill, which will people. The army blamed in Hebron a year ago was permit the government to infiltrators from Afghanistan, Mike Pence went to Europe to sentenced to 18 months in jail. negotiate the country’s depar- sealed the border and shelled assure America’s allies that it is Many were outraged, either ture from the EU, was debated what it said were terrorist still committed to NATO, because they thought the by the House ofLords, Parlia- bases on the Afghan side. whatever his boss may have sentence too light; or because ment’s unelected upper house.