Comments for Mike Saint http://mikesaint.com Fri, 13 Jan 2012 22:33:48 +0000 hourly 1 http://wordpress.org/?v=3.5.1 Comment on Creative destruction by Patrick Fox http://mikesaint.com/2012/01/09/13/01/creative-destruction/comment-page-1#comment-19 Patrick Fox Fri, 13 Jan 2012 22:33:48 +0000 http://mikesaint.com/?p=456#comment-19 While I agree that economic survival of the fittest is a key element in a successful capitalistic society, I do believe in government intervention for the good of the country in some circumstances. The loss of manufacturing capacity in the US is concerning and the eradication of the entire US auto industry would have been a blow not only to American workers but to our ability to continue to compete internationally. Should the President have allowed the US to completely give up on the auto industry so every dollar Americans spend on cars would leave the country? Beyond the long-term economic impacts, this loss of manufacturing capacity could have significant national security impacts.
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I agree that American Airlines should be allowed to fail. The loss of that airline will not mean the end of the US airline industry. If it did, I would favor government intervention to help preserve our stake in a critical industry. The long list of failed retailers did not result in the end of their industries but were part of the natural evolution of the business cycle.

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