apo·tro·pa·ic - adjective: designed to avert evil
As in, bailing out the US auto industry may prove to be an apotropaic move according to a wide range of pundits. I happened to catch Michael Moore's interview on Larry King Live last night and thought he made some interesting points about why we should bail out the auto industry. The number one reason is the autoworkers who will lose jobs if the car companies go down. With unemployment at an already extreme high, this is definitely something to consider. The auto industry employs huge numbers of people in the Midwest region and the loss of those jobs could spell economic disaster. On the other hand, as numerous critics, and Michael Moore, point out the auto industry has been the architect of its own disaster. Any bailout plan should come with regulations meant to maintain American jobs and improve production of cars that will actually sell in a climate of economic and environmental worries. Just say no to SUV's, GM. It is amazing how much more debate and apprehension there appears to be over a bailout for the auto industry then there was for the financial industry, who were equally as culpable in their own downfall. The current debate and apprehension would have been more appropriate in deciding to bailout white collar criminals, whose bankruptcy would not be nearly as disastrous to the average American as the bankruptcy of any of the major car companies. Yes, the execs at GM, Ford and Chrysler made some major mistakes, but we should allow their mistakes to turn the guys down on the factory floor out onto the streets.
Some further reading:
"For Detroit, Chapter 11 Would Be the Final Chapter," Spencer Abraham, NYTimes
"Congress should finalize loan to car makers soon," George Harris, Kansis City Star Reader Advisory Panel
"GM Must Re-Make the Mass Transit System it Murdered," Harvey Wasserman, CommonDreams.org
"No viable auto industry bailout plan: Democrats," AFP
1 comment:
There is some hand-wringing in the doctor's lounge here because the high-end dealership here may be closing. As if we don't have way too many auto dealers here. I don't necessarily support the idea of (or believe that we have) a free market but for all those whiners in the doctor's lounge who do: this is how a free market works.
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