Stimulate Car Buyers, Not Car Makers.

Abstract

Should Uncle Sam do whatever is necessary to prevent General Motors, Ford and Chrysler from bankruptcy? If these were normal times, we suspect that most mainstream economists (and many mainstream legislators) would be inclined to let their stockholders, creditors and unions suffer the consequences of decades of myopic decisions. But with financial markets still in turmoil and the economy on the cusp of a nasty recession, these are hardly normal times.Technology and Industry