An Auto Bailout Would Be Terrible for Free Trade
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"An Auto Bailout Would Be Terrible for Free Trade"
Published 11/20/2008 by Mark Thoma at Economist's View
... An Auto
Bailout Would Be Terrible for Free Trade, by Matthew Slaughter, Commentary, WSJ:
Congress is now considering a federal bailout for America's Big Three automobile
companies. Many want to grant them at least $25 billion ... on top of $25
billion in low-interest loans approved earlier this year. ... There are at least
three important ways an industry bailout could damage America's engagement in
the global economy and hurt U.S. companies, workers and taxpayers. ...
links for 2008-11-20
Published 11/20/2008 by Mark Thoma at Economist's View
International finance and economic growth - Dani Rodrik
An Auto Bailout Would Be Terrible for Free Trade - WSJ.com
Finance, market, globalisation: a plot against mankind? - Vox EU
Drawing the wrong lessons from policy errors - Stephen Gordon
GM solution: Chapter 11 with government restructuring finance - Vox EU
How Obama can energise the economy - FT
Long Tail stops wagging - Whimsley
Health Insurers Offer to Accept All Applicants, ...
A Sustainable Auto Industry
Published 11/20/2008 by Greg Mankiw (noreply@blogger.com) at Greg Mankiw's Blog
Dartmouth economist Matthew Slaughter: On Sunday, President-elect Barack Obama asked, "What does a sustainable U.S. auto industry look like?" Well, it looks a lot like the automotive industry run by "foreign" car companies that insource jobs into the U.S. In 2006 these foreign auto makers (multinational auto or auto-parts companies that are headquartered outside of the U.S.) employed 402,800 Americans. The average annual compensation for these employees was $63,538. At the head of the line of sustainable auto ...
Thursday's Daily News
Published 11/20/2008 by Andrew Roth at Club for Growth
THE DAILY NEWS
Conservatives Look to Balance Grassley - Alexander Bolton, The Hill
An Auto Bailout Would Be Terrible for Free Trade - Matthew Slaughter, WSJ
How To Move The Economy Forward? - Russell Roberts, Forbes.com
GM Deserves Bankruptcy - National Review Editorial
Baucus's Bad Bill - Michael Tanner, Cato Institute
"Experimental" Governing? No Thanks - Jonah Goldberg, NY Post
Ignore the Stock Market Until February - Andy Kessler, ...
In Praise of the US Auto Industry
Published 11/21/2008 by Peter Klein at Organizations and Markets
... I pulled these numbers from Matthew Slaughter’s fine piece in yesterday’s WSJ, “An Auto Bailout Would Be Terrible for Free Trade,” which points out that the US is one of the the world’s largest recipient of Foreign Direct Investment and that an auto industry bailout would surely reduce the flow of FDI, at the expense of the US economy. “Ironically, proponents of a bailout say saving Detroit is necessary to protect the U.S. manufacturing base. But too many such bailouts could erode the number of manufacturers willing to invest here.” ...
Congress would be imprudent to take action without commitment for serious change from the auto companies. Remember Lee Iacocca and his promises 29 years ago when asking for Chrysler's loan guarantees? He not only flew commercial aircraft, he promised to take no salary - and have a bonus approved by Congress. He also put the UAW's leader on the Board at Chrysler! He was ready to changed processes, and the kinds of cars sold in America. We need that kind of leadership change if we're to bail out Ford and GM. Read more at http://www.ThePhoenixPrinciple.com