June 18th, 2009 by Bob Bly
If you sink money into starting an Internet marketing, copywriting, or other small business, and you aren’t successful, will the government write a check to tide you over until you turn a profit? Not on your life.
So why should they do it for car manufacturers and banks? The answer, of course, is that they should not.
As Ed Konecnik points out in a letter to NYC’s Libertarian newspaper Serf City (vol. 5, no. 1, p. 2): “Success is a result of manuy factors. By eliminating the consequences of failure, we inspire and encourage mediocrity.”
Plus, a government bail-out of big business is just grossly unfair to small business. If we run our businesses poorly, we are out of business. Why should the same rules not apply to large corporations and financial institutions?
“In the real world, bankruptcy and failure are options that serve to cleanse and filter out incompetence,” writes Konecnik.
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