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Richard Epstein warns against the dangers of the president bullying private business, explains how attempts to help the working class could backfire, and cautions against the Trump Administration’s use of tariffs.
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Trump is opening a lot of doors that I dont want any government to go through, and future presidents may well test the waters on those new territories sooner, rather than later. What-about-ism will be turned on its head.
GM’s current problems are caused by the government bail outs. Had they left GM to fend for itself, it would long ago stopped making cars that where uncompetitive. They can’t beat the Germans in the luxury and sport car markets, they can’t beat the Japanese or Koreans at the low end. The only place where American car companies are competitive, are in the cars that are unique to north america – pick up trucks and SUVs. In the 1950’s GM had more than half of the US auto market. The government was considering breaking up GM, like they would later do with AT&T.
That was the real government action that could have changed the auto market. Breaking up GM, could have made the marketplace competitive again.
Would the modern internet have evolved as quickly as it did, if AT&T was still a monopoly? I dont think so.