too many were romantic about particular corporations. But companies fall and new ones arise to take their place. The critical and useful role for government is to create the policy framework that helps ensure a vibrant economy, not to micro-manage layoffs at a particular corporation. Unless one cares to be protectionist, provincial, or ideological, the GM-Chrysler bailout made no sense in 2009 or now. This article appeared in the Financial Post, February 16, 2012. iStockphoto
of their depositors’ money back in 2009. That only occurred in the softer, political realm—with a $5.5 billion loss. Meanwhile, US taxpayers are out $23.8 billion according to a recent US Treasury Department report to Congress. For supporters of the bailout, their error was not only mathematical but conceptual:
Mark Milke is the director of Alberta Policy Studies at the Fraser Institute. He also manages the Fraser Institute’s Centre for the Study of Property Rights.
Spring 2012
Canadian student review
37