Government motors: Why it will fail

Foundation for Economic Education
by William Anderson

06/10/09

If you like Amtrak and the Postal Service, then you surely will love ‘Government Motors,’ as the entity most responsible for the carmaker’s demise takes control. When Ludwig von Mises wrote Bureaucracy in 1944, he understood then what we are seeing now with GM. Mises understood that the bureaucratic model could not effectively be applied to business. Furthermore, he also stated that if businesses become bureaucratic, they do so precisely because of the presence of government pressure on their day-to-day activities...

//fee.org/articles/not-so-fast/government-motors-fail/



CEObama

Cato Institute
by Daniel J. Ikenson

06/05/09

The Obama administration’s pre-packaged bankruptcy plan for General Motors is a recipe for disaster. Even if President Obama were sincere in his claim that he doesn’t want to run a car company, it will be impossible for him to eschew policies that distinctly benefit GM. With taxpayers on the hook for $50 billion (just for starters), the administration will do whatever it takes to demonstrate the wisdom of its intervention. That will require, at a minimum, a positive return on the coerced investment. But to merely break even on taxpayers’ 60% stake, GM will have to be worth $83 billion (60% of $83 billion is $50 billion). How and when will that ever happen?

//www.cato.org/pub_display.php?pub_id=10276


Informant: Thomas L. Knapp



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