Of course there would be some transition cost incurred, maybe brief unemployment for some, but like someone said and I can't remember who, "Americans are not going to stop driving cars." The demand is still there, jobs will still be there. Perhaps even more jobs when better companies spring up to fill the void. Bailing out is many many times more costly IMO.
Tell me, what doomsday catastrophe would happen if the auto giants failed? Would their factories evaporate into oblivion? Would the experts under their employ cease to be experts? Would the workers acquired skills devolve into uselessness?? Or maybe, just maybe, the factories would persist, experts would be rehired by new management or entire new companies, and workers would continue working!
cheesemold, how about you take an economics course. Oh wait, that's right, economic courses are government tools to tell you the government is right to interfere and bailout.
Take an economics course. The failure of huge corporations affects the little people that depend on those wages more than the owners. The owners can cut and run whenever they see fit, wage-workers and the economy that depends on them won't benefit from a mountain crumbling down on top of everything.
Failure is not an option. You won't know what you've lost until your Arsenal of Democracy is gone. Something else will take its place but it will be somewhere else, controlled by someone else, making money for someone else, being an arsenal for someone else. If you are ok with that, then by all means, let it fail.
The Big 3 screwed the pooch and deserve to fail, but the unfortunate reality is that failure would decimate the rest of the economy, and we don't want that, now do we? Bailouts aren't (shouldn't be) about who deserves it. We need to be practical and form policy based on a holistic view of the economy as a system.
Like the Easter Bunny and the Tooth Fairy, there is no "free market." How about setting the economic landscape that supports our values and national goals and aligns market forces to accomplish those goals. Every time you say "free market," God kills a cute innocent kitten.
vontrapp
Of course there would be some transition cost incurred, maybe brief unemployment for some, but like someone said and I can't remember who, "Americans are not going to stop driving cars." The demand is still there, jobs will still be there. Perhaps even more jobs when better companies spring up to fill the void. Bailing out is many many times more costly IMO.
21 days ago
vontrapp
Tell me, what doomsday catastrophe would happen if the auto giants failed? Would their factories evaporate into oblivion? Would the experts under their employ cease to be experts? Would the workers acquired skills devolve into uselessness?? Or maybe, just maybe, the factories would persist, experts would be rehired by new management or entire new companies, and workers would continue working!
21 days ago
vontrapp
cheesemold, how about you take an economics course. Oh wait, that's right, economic courses are government tools to tell you the government is right to interfere and bailout.
21 days ago
cheesemold
Take an economics course. The failure of huge corporations affects the little people that depend on those wages more than the owners. The owners can cut and run whenever they see fit, wage-workers and the economy that depends on them won't benefit from a mountain crumbling down on top of everything.
21 days ago
spoonyfork
Failure is not an option. You won't know what you've lost until your Arsenal of Democracy is gone. Something else will take its place but it will be somewhere else, controlled by someone else, making money for someone else, being an arsenal for someone else. If you are ok with that, then by all means, let it fail.
25 days ago
Dilpil
Is the free market always right? No. In this case however, it is.
29 days ago
jschwa
The Big 3 screwed the pooch and deserve to fail, but the unfortunate reality is that failure would decimate the rest of the economy, and we don't want that, now do we? Bailouts aren't (shouldn't be) about who deserves it. We need to be practical and form policy based on a holistic view of the economy as a system.
about 1 month ago
jkoteen
Like the Easter Bunny and the Tooth Fairy, there is no "free market." How about setting the economic landscape that supports our values and national goals and aligns market forces to accomplish those goals. Every time you say "free market," God kills a cute innocent kitten.
about 1 month ago