Wrong. Read here a sober account of the bailout from Daniel J. Ikenson, unadorned by the Polly Anna, government-will-save-us philosophy of the progressive crowd and the current administration.
Frederic Bastiat taught us in the 19th Century that all forms of protectionism and government subsidy are nothing more than special pleading of the few to gain advantage over the many. Bastiate showed us the absurdity of the facade of saving jobs more than 100 years ago.
Yes, the GM bailout saved jobs for some. That's the part that is seen. That's the benefit side of the equation. What is not seen is the cost side. Read Bastiat's "The Candlemakers' Petition" here for a classic parody of the bailout crowd.
Frederic Bastiat taught us in the 19th Century that all forms of protectionism and government subsidy are nothing more than special pleading of the few to gain advantage over the many. Bastiate showed us the absurdity of the facade of saving jobs more than 100 years ago.
Yes, the GM bailout saved jobs for some. That's the part that is seen. That's the benefit side of the equation. What is not seen is the cost side. Read Bastiat's "The Candlemakers' Petition" here for a classic parody of the bailout crowd.
