fhwang.net

What's more important: American jobs or American companies?

Robert Reich:

Advocates of bailing out GM and Chrysler, and most likely Ford, say America can’t afford to lose “its” auto industry. But this argument leaves out the fact that foreign-owned automakers, already producing cars here in the United States, employ – directly or indirectly – hundreds of thousands of Americans. And at the rate the Big Three are shrinking, and plan to shrink even further—even if they get bailed out—foreign automakers may soon be employing more Americans than the Big Three.
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Tagged: economics

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