alt Hacker NewsIf the government shouldn’t press its thumb on the scale at the start (fair to argue!) then it shouldn’t press its thumb on the scale when they demand a bailout.
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Agreed. However, “the government” is very much not a monolithic entity.
b-but but then... who owns the bag?
do you know how expensive private jets are to operate?
Why not? The government is allowed to destroy private enterprise as much as the government is allowed to destroy society. Just because you personally disagree with it doesn't mean society doesn't have the right to destroy companies they find to be damaging to society.
Destruction isn't the opposite of bail out, it's just destruction. The government is obligated to do what society wants. From this destruction would come creation by freeing up capital to do more productive things than waste money chasing fantasy rather than providing free school lunches or free university instead (you know the actual things that would generate economic value).
Bailouts have been a wonderful tool in the 21st century. During 2008 crisis, there was an unbelievable high ROI to them, both in the $ value of investments in the banks and in the global economic catastrophe it prevented.
Agreed, so also don't bailout.