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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (107961)	1/23/2012 8:23:14 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

In a prosperous and dynamic economy, failures are one element of renewal. It's called creative destruction where the markets and people learn from the mistakes of others, so that the markets and people can grow. If we insulate everyone always from their mistakes, then they never grow and you never reward the people and companies who won the competition on hard work and superior ideas. The tyranny of the majority is when the person who stands head and shoulders over everyone else has his head cut off, because everyone must be made to stand no taller than anyone else. We need to allow for success, but also allow for failure. Both are part of the symmetry that is life. You can try to take away failure, but it always comes back to haunt you just like a coiled spring will eventually uncoil with tremendous force. I don't believe the gov't should step in and save companies that have failed the rigors of the marketplace. They should be allowed to fail. They can try again after going through bankruptcy and firing the incompetent leaders or they can give up and sell off their parts to more competent owners. But when the gov't steps in to decide that the company won't fail, then they are calcifying the failure and keeping the failed leaders in place, which is the very definition of malinvestment. It means that someone somewhere who would have created more long run opportunity for this country is then left without those resources that were lavished on the failing company. Bailouts and saving companies from themselves is NOT the role of government, at least not in a free and prosperous market. If you want to live in Communist China, then feel free, but let's not bring that kind of thinking to the US.