Tuesday, November 18, 2008
Detroit in trouble
I was going to make a small comment on an Ezra Klein post as I shared it on Reader, but I felt like I might as well write it on COBFTNG since for months it has been cruelly ignored by its own creator and it deserves a little action.
Here is the link. As anyone who knows me realizes, I'm a big fan of Kleins writing on The American Prospect and am quick to share what I feel are interesting and thoughtful posts that he churns out over there.
Here he highlights one take on the automakers bailout/deal. I'm obviously no expert, but why would the auto industry need further incentive to make higher gas mileage standards/ further "green technologies" a priority? I understand why looking for a bailout to try to save millions of jobs is reasonable given the state of our economy, but why haven't these companies innovated and progressed to the point where they don't need the federal government to jump in and save their failing businesses?
I guess it is by and large more of a statement about the condition of the general economy than any one particular industry that these types of "bailouts" are deemed necessary and acceptable. Maybe its an overly simplistic view of the auto industry, but I wonder if its right to feel that these companies are getting what they deserve for not adapting to evolving demand for more fuel efficient vehicles and environmentally responsible transportation options.