It's a very odd definition of success

The aim of an economic system is to produce enough of something while still being able to produce the maximal amount of everything else. Producing too much of the one thing means that we are producing, well, too much of that and are thus gaining not as much of everything else as we could be getting. We are therefore poorer.

Which makes this a very odd definition of success:

Thousands of homes across Britain were offered the chance to earn extra money this month by turning their electric vehicles on to charge overnight or setting a timer on their laundry load. Customers on a new breed of “smart” tariff were effectively paid to help make use of the UK’s abundant wind power generation, which reached a record 16GW of electricity, to make up 45% of the generation mix for the first time.

It is an early glimpse of the increasingly important role that cheap, renewable energy will play in the decade ahead – and a timely reminder to the new government of the huge potential that could be harnessed with the right policies to support one of the UK’s fastest-growing industries.

Devoting resources to producing something in such glut that we quite literally could not give it away? We’re fine with dealing with whatever dangers it might be that climate change sends our way, even reducing them if that’s the correct option. But spraying societal wealth down the drain just doesn’t seem to be the correct response to anything at all.

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