In his discussion of the bailout of the American Automobile industry Harry Rady explains why it is a mistake to have politicians dictating business practices. The bailout should be strictly limited to fixing the problems in the industry and not getting muddled in other tangential enterprises like producing electric cars or rail cars or other activities that will make the process of repairing the industry more complicated. Rady believes that if a business has the right management in place and the right structure for the industry to compete, then it must be up to that company or industry to decide what the right time and the right conditions are for the development of a new product, such as electric cars.
Bailout of Auto Industry Should be Laser-Like in Focus: Rady