Mises central insight was that markets are governed not by bureaucrats, but by consumers. Producers succeed only by satisfying the preferences of the people they serve. In Human Action, Mises likened the consumer to the captain of a ship: 'The captain is the consumer. Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that.' AI is no exception.

IWhile wind and solar technologies will likely play some role in future generation portfolios, policymakers and market participants should resist efforts to force hyperscalers into narrowly prescribed energy strategies that may prove poorly suited for the unique reliability demands of AI infrastructure.