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freakonomics.blogs.nytimes.com - 12/15/2008
What's the Point of Bailing Out the Auto Industry?
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Governments intervene in markets all the time - and they should, in order to make markets more competitive; to solve problems of externalities (which are ubiquitous); to resolve difficulties caused by individuals' shortsightedness, including the spurring of innovation; and to reduce transactions ...
newgeography.com - 12/18/2008
Bailing out California, Again
— newgeography.com — If many of the nation’s governors have their way, the next agenda item for the spendthrift federal... government could be a bailout of state budgets . According to a report issued on December 10 by the Center on Budget and Policy Priorities, 37 states ... (more) Bailing out California, Again
Comments vote down Paul Kedrosky's Infectious Greed found this 12/18/2008found this

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TRUTH ON THE MARKET:  Hamermesh on the Point of the Bailout

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Hamermesh on the Point of the Bailout
TRUTH ON THE MARKET — Some simple economics and common sense : Governments intervene in markets all the time — and they should, in order to make markets more competitive; to solve problems of externalities (which are ubiquitous); to resolve difficulties caused by individuals’ shortsightedness, including the spurring of innovation; and to reduce transactions costs. Where does the auto bailout fit in? It certainly doesn’t make markets more competitive; instead it subsidizes American oligopolists. It certainly doesn’t spur innovation; while the provisions may talk about this, bailouts have proven to be ...

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