EconoWeirdness

Exposing the madness wehind current economic thought

Monday, July 29, 2013

"We" didn't save the auto industry.

Obama in his speech on the economy at Knox College in Galesburg, Ill.:

"Together, we saved the auto industry."

Robert Wenzel sets him straight:

Government intervention to prop up failing businesses is not free market. A free market is a profit and loss system. Not a system where losers are bailed out by forcefully taking tax money from the general public.