Antitrust proves to be it's own worst enemy
Somewhere in the universe of free trade, protectionism, competition and antitrust lies the story of General Motors. The National Review ponders how GM came to this point.
Antitrust, of course, is concerned about one domestic company dominating the domestic market. As Burton Folsom points out this leaves a company targeted by antitrust proponents vulnerable to competition from outside the country.
So the history of GM, once a feared titan often cited as an example proving the need for stronger antitrust laws, is apparently going to end with the government that created such laws forcing GM into bankruptcy (and killing off Chrysler almost as an afterthought) which will leave exactly one domestic car manufacturer left: Ford.
An ironic end to decades of antitrust activity, isn't it?
Antitrust, of course, is concerned about one domestic company dominating the domestic market. As Burton Folsom points out this leaves a company targeted by antitrust proponents vulnerable to competition from outside the country.
So the history of GM, once a feared titan often cited as an example proving the need for stronger antitrust laws, is apparently going to end with the government that created such laws forcing GM into bankruptcy (and killing off Chrysler almost as an afterthought) which will leave exactly one domestic car manufacturer left: Ford.
An ironic end to decades of antitrust activity, isn't it?