The New York Times asked a number of economists to respond to the question, “do we need a domestic auto industry? Many American manufacturing industries, like textiles and electronics, long ago moved to other producing countries. Why is the auto industry different?”
I know this is a few weeks old, but it took me awhile to get through it all.
Among the reasons as to why we taxpayers should support keeping the Big Three alive: if they fail, we’ll be picking up the tab anyhow for pension and health care costs for the affected workers and retirees, the importance of the companies’ innovation, and the way the auto industry drives much of the economy.
Not everyone argues in favor of supporting the industry, but it’s interesting to read the various viewpoints.
-KG
