Bailouts are immoral
(Let us set aside the many ways in which goverment interference, through onerous regulations, stifles the profit making ability of businesses.) The essential argument to make against business bailouts is this: Bailing out enterprises like GM means forcing the consumer, i.e. the tax payer, to pay money to GM without receiving anything in return. The consumer who does not want its products has to pay GM anyways without getting anything for his money. The consumer who has purchased a GM product pays more without receiving more. Bailing businesses out means your right to liberty does not need to be respected. It does not matter whether you want a business’s product or service; you still have to pay the salaries of incompetent executives and to secure the jobs, pensions and healthcare plans of thousands of employees who think it is right that you are forced to sacrifice for them. At bottom, a bailout violates your rights because it negates your freedom of choice. That is why bailouts are immoral.
November 18th, 2008Topic: News Tags: bailout, General Motors, rights
November 25th, 2008 at 9:41 am
immoral, absolutely. I’m not following economics very closely anymore but the guv. folks say if we don’t do it it will have a huge impact on the global market ect. ect. ec.
Its also possible that lawmakers and buisness exectuives are making deals and doing favors and securing political allies and gathering funds for the next campaighn.
but probably not, politicians and executives are such a moral, straigtfoward, honest and ethical bunch that I’m sure they will always work in the couuntrys best interest.