Quote:
Originally Posted by JusticePete
I am a a free market guy to the bone. The out bailouts rub me the wrong way on so many levels. What the government did for GM is less than what the government OWED them. The incentives that state governments provided to Toyota and the rest of the transplants early on put the BIG three at a disadvantage. On a national scale we have open markets, yet we fail to provide open markets in foreign countries. Combine that with a pathetic fiscal policy and the government owed GM. GM took the brunt of all these government actions because they were the largest domestic auto mfg.
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Truly free markets don’t really exist. Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because people so unconditionally accept its underlying restrictions that they fail to see those restrictions. How ‘free’ a market is cannot be objectively defined. It is a political definition. The usual claim by free-market economists that they are trying to defend the market from politically motivated interference by the government is false. Government is always involved and those free-marketeers are as politically motivated as anyone. Overcoming the myth that there is such a thing as an objectively defined ‘free market’ is the first step towards understanding capitalism.
Sorry for getting a bit off topic. We now return you back to our regularly scheduled ZL1 discussions.