The government-run General Motors, under its new CEO Barack Obama, will soon be selling nothing but O’smobiles, which will definitely not be your father’s Oldsmobile. They will all be union-made, of course, since the primary mission of the new GM will be to keep the UAW in business. As an arm of the state, GM will turn quickly to all green cars, and we will have the chance to test Obama’s theory that green jobs will revive the economy.
I’m willing to bet that a nationalized GM will be unable to exploit any workable green technology. The first problem will be its ineptitude and inefficiency in getting a product to market. The second will be a question of ownership. If a private company develops the technology, it will exploit its advantage. If a government-owned GM develops a green technology, what will be the government’s rationale for not putting that technology immediately in the public domain?
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