Not good, but necessary to compete. Granted, I don't have the numbers to compare domestic vs foreign productivity, overhead costs, purchasing power, etc.
GM's resources would have been bought and used in something else - that labor would have been used elsewhere.
This seems like a huge assumption. Given our current state of unemployment, I'm not buying it.
When you have a subsidy on something, you're admitting that other people don't value it enough.
Not necessarily. We subsidize the oil and farming industries (presumably to keep costs down). On a global scale, how can we compete when other countries are also subsidizing their industries?
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Date: 20/1/12 01:42 (UTC)Not good, but necessary to compete. Granted, I don't have the numbers to compare domestic vs foreign productivity, overhead costs, purchasing power, etc.
GM's resources would have been bought and used in something else - that labor would have been used elsewhere.
This seems like a huge assumption. Given our current state of unemployment, I'm not buying it.
When you have a subsidy on something, you're admitting that other people don't value it enough.
Not necessarily. We subsidize the oil and farming industries (presumably to keep costs down). On a global scale, how can we compete when other countries are also subsidizing their industries?