Do we need the auto industry? We hear about the car companies getting a bail-out, and how important the auto industry is to the nation's economy as if it's indisputable. Why is it indisputable? The 3,000,000 jobs? That many jobs are important sure, but what evidence do we have historically that when industries go under that those jobs are lost forever? The buggy-whip manufacturers (or their natural decedents) found jobs. You can't convince me that Michigan would be worse off today if Ford and Chrysler had failed in the 1980s. It stretches credulity to think that it could be worse there.
Tell me why the auto industry is a special case in the economy like the banks.
Tell me why the auto industry is a special case in the economy like the banks.
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