The Futility of Corporate Welfare

Letting Companies Fail Creates Jobs is a timely piece given the bailout mania which afflicts the USA. Propping up failed companies is economically counterproductive. There is historic evidence, as the linked blog reference to futile British efforts to support carmaker British Leyland, testify. The market is a better guiding force for efficient use of resources. The reason is that those who drive market forces have a vested interest in utilizing resources efficiently. Their own financial welfare depends on it.