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Dec 9, 2008

Support the Big Three and Lose Something Else

Subsidizing the Auto Industry Means Sacrificing Others
12/9/2008 - Business and Media Institute by Donald J. Boudreaux

[edited] It is impossible to know if the future benefits of electric cars are worth what could be lost by subsidizing them.

Perhaps resources artificially forced into advanced-battery development would otherwise have helped cure cancer, or encouraged development of more fuel-efficient jet engines, or deployed to keep millions of retired Americans more financially secure. Neither Neil nor Uncle Sam can know the value of what would never be created as a result of subsidizing unprofitable production in Detroit.

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