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Politics : View from the Center and Left

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From: TimF	11/17/2008 8:26:18 PM
	of 541763

Bad Precedents By Conor Friedersdorf One more thing to add to the auto bailout discussion — anyone who worries about corporate welfare, politicians bailing out their powerful friends, crony-capitalism, or whatever you want to call it, ought to see that even if a single bailout is on balance a good idea the inevitable consequence of habitually bailing out industries is that the people bailed out won’t be chosen on the merits. They’ll be chosen based upon who has the best political connections. Poor people do not have the best political connections. Nor do we want an economic system where succeeding as a business depends more on cultivating powerful relationships than making good products or rendering wanted services. Again, it is always the least well off people who are most hurt by these sorts of arrangements... culture11.com

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