Raak] Unless the government steps in and does something, like nationalise it. Governments used to do that here, and they still do on the continent and elsewhere. When exactly did it get written that the market has the absolute power to screw us all over?
[Irouleguy] I.e. subsidise it with other people's money. When exactly did it get written that every incompetently run business has the absolute power to put a trowel into my pocket?
(Raak) When the railways were privatised, amongst other instances. The Government subsidy to Train Operators and Rolling Stock Leasing companies is huge, and vastly more than was available to BR. Large amounts of public money disappear into private profit. So the true answer to your question is; "when the current political dogma has to be satisfied". There's a lot of it about, worldwide, and always has been.
Littlewoods is shedding 3000 jobs and closing most of its 'Index' stores. Will there be a march on parliament and hundreds of millions of pounds in government aid?
Raak] What Rosie said, plus the Common Agricultural Policy (which puts your money and mine into the pockets of the royal family!), the Export Credit Guarantee Department (which ensured that when arms manufacturers flogged stuff to Saddam Hussain and he didn't pay up that you and I paid for it), the 'guarantees' given to PFI contractors....
(Irouléguy) I was going to mention all that, so I'm glad you did. Also, many countries practise protectionism. A typical example (the legally-enforceable Buy American policy of many US institutions) cost me my job in 1998.
Also it doesn't help that the average CEO's salary has risen to a truely incomprehensible sum. Oh, your company is out of money? Mayhaps it's because you were paying yourself thirty million dollars a year for a job consisting largely of assigning yourself more stock options. Fortunately you'll never feel the sting of unemployment because you write yourself off as a personal corporation for tax purposes and you don't need one of those silly retirement accounts because you have more money than King Solomon. Sadly four thousand people have lost their honest, hard-working jobs, but if they're that honest and hard-working I'm sure they'll land on their feet.
... On a separate note, I want to see someone jump twenty motorcycles with a full size bus.
hello everyone, since university work is building up and building up at an alarming rate, I don't really have time to keep playing MC, sadly. I hope to be back in the summer, but for now I'll say goodnight and hope you all have a LOT of fun in Rugby. (crossposted)
[Rosie, Irouléguy] But your examples really just support Raak's point. Raak says "we shouldn't subsidise companies that make stuff that no-one wants to buy". Your response seems to be "we should, because, look, here are lots of other ridiculous cases where the government subsidises companies that make stuff that no-one wants to buy". Raak would respond (I guess) "Absolutely. Scrap the CAP and export guarantees and all of those other stupid policies as well". In other words, in rebutting Raak's rhetorical point ("when exactly did it get written...") you end up buttressing his substantive point.