Time to Pull the Plug on General Motors (GM)

November 11, 2008 by Douglas A. McIntyre

By John Tamny  of RealClearMarkets

Ludwig Von Mises once wrote that the entrepreneur who fails to use his capital to the "best possible satisfaction of consumers" is "relegated to a place in which his ineptitude no longer hurts people’s well-being." The latest losses at General Motors reveal yet again that it is the living embodiment of managerial ineptitude, and to insure that it no longer fails its customers while harming the well-being of Americans more broadly, it’s essential to let the firm die.

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