@Olivier5,
Olivier5 wrote:
Of course jobs can return. Not necessarily the exact same ones as before though. But tell me: was Obama right to invest heavily in the US automotive industry to preserve some of its jobs, or should he had let them die in a laissez-faire manner?
This is difficult to say, as it compares an actual event to a theoretical outcome. It would be wrong of me to boldly answer yes or no. That being the case, I tend to believe that Obama made the correct choice, for two reasons:
First, the downstream effects from a major auto manufacturer going under would put hundreds of thousands of people out of work who are in ancillary industries; this would have been a real blow at a time in which we were losing 500k+ jobs a month already.
Second, the overall price for doing so wasn't very high.
It's not a slam-dunk case though. You could make a strong argument that he should have let them go.
Cycloptichorn