Saturday, August 20, 2011

Merchantability

The team that made lousy Impala cars is still managing GM. GM will not take responsibility for problems that were typical of the pre-bankruptcy GM. If you are big enough, you can get a bailout, bankrupt your company, stay as management at the same pay, and take no responsbility for your past poor performance.

Ther should have been no bailout of GM. It should have failed, and then maybe 1000 of the tens of thousands people who lost their jobs would have started car companies. Maybe 500 would be in business now, 2 years later. and maybe in 5 years there would be 100 of them thriving, hiring, a renaissance. We have nothing better now.

In socialism, not one could account for costs, and so it failed. In capitalism, no one can account for responsibility, so it is failing.


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