Thomas Friedman says that the potential bailouts could not only define
Detroit and change the economy but also shape an entire generation.
Excerpt:
We not only need to bail out industries of the past but to build up
industries of the future — to offer the kind of big thinking and
risk-taking that transforms enormous challenges into world-changing
opportunities. That is what made the Greatest Generation great. This
money can’t just go to patch up our jalopies.
“Remember, this
money will not be neutral,” said Andy Karsner, a former U.S. assistant
secretary of energy. “We are talking about directing an unprecedented
volume of cash at our housing, energy, transportation and
infrastructure industries. This cash will either fortify the incumbent
players and calcify the energy status quo, or it will facilitate the
economic transformation we seek. The stimulus will either be white
blood cells that will heal us or malignant cells that will continue to
sap our strength.”
Read the entire article
here.
Another interesting piece by Friedman about Detroit, the auto industry, and developing innovations before someone else does.
Read that entire article
here.
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