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To the Letter!

Posted By Don Boudreaux On December 23, 2008 @ 9:01 am In Complexity & Emergence | Comments Disabled

Here’s a great letter in today’s Washington Post [1]:

After witnessing the Big Three automakers come to Washington to beg for money, and seeing GM [2] and Chrysler [3] take the bailout ["Aid in Hand, Clock Ticks for Detroit," front page, Dec. 20], I know that I will never buy another GM or Chrysler product, and maybe not another Ford [4]. Which is too bad, because I have one Ford and one GM car in my garage right now, and both are pretty nice vehicles.

But I’m disgusted by the automakers and by our government for undermining the American free enterprise system. Now the only way to truly revive our economy is to drive these terminally ill companies into bankruptcy by boycotting their products. Successfully doing so would free their human and capital resources to reengage in economically viable businesses. The government can force us to pay taxes, and it can misuse the revenue, but it can’t (yet) force us to buy cars from a failed, nationalized industry.

Would this be painful economically? Absolutely. Would it deepen the recession? Absolutely. Would it cost us, the taxpayers, even more? Absolutely.

But it’s the only way to correct the system so my children can grow up to live in a prosperous and free country.

MICHAEL HIGGINS
New Market

I don’t know Mr. Higgins, or anything about him.  But I applaud the soundness of his economic wisdom.

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[1] Here’s a great letter in today’s Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2008/12/22/AR2008122201930.html

[2] GM: http://www.washingtonpost.com/ac2/related/topic/General+Motors+Corporation?tid=informline

[3] Chrysler: http://www.washingtonpost.com/ac2/related/topic/Chrysler+LLC?tid=informline

[4] Ford: http://www.washingtonpost.com/ac2/related/topic/Ford+Motor+Company?tid=informline

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