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Posted

It is sad what has happened to Detroit, but one could argue that in this case, the market did exactly what was "right". It punished incompetent, fat-cat and greedy management, shareholders, unions. The "market" is for automobiles and consumers were "right" in gravitating towards better quality foreign-made automobiles. If the market hadn't worked, we'd be still driving Detroit junk like the Vega, Pinto or Omni.

Posted (edited)

The BBC made a fascinating documentary called Requiem For Detroit that predates this amazing collection and is very impressive.

Edited by kinuta

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