November 18, 2008
The title of this Samizdata post made me wince.
[...] If the Democrats do decide to rescue the US car industry via a bail-out, they will rationalise and reorder. Perhaps they will even wish to intervene as to which models and which research should be undertaken. Think of the opportunity for renewables...renewing jobs, renewing pork, renewing votes. By the end of this process, it is doubtful if there will be any US car industry at all. Congress will have undertaken a wonderful role in clearing out the undergrowth for more efficient rivals and Detroit will go the way of Morris, Austin and the Triumph marques.
Those who cannot remember the past, are condemned to repeat it - Santayana
Posted by joke du jour at November 18, 2008 07:15 PM
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