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by silexia
1706 days ago
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Business is going under is actually a good thing. It frees up market space for new entrepreneurs and new businesses to be able to get going and make newer better offerings. The last two recessions all of the big companies have been bailed out, which means that we have the same bad practices and bad CEOs still in charge of our economy. Let them go bankrupt and then we will have fresh ground for entrepreneurs to flourish. |
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I agree to this in some contexts, but I also think it's sometimes used with too broad of a brush. It seems to ignore the time lag that means sometimes things can get really bad before they get better. Sure, allowing banks and automotive manufacturers to go under could create "fresh ground for entrepreneurs to flourish." But it could also create decades of depression/recession effects before that flourishing happens. We're currently seeinng the supply chain effects that people didn't really anticipate well. As someone from the rust belt, there are an awful lot of tangentially related manufacturers who will also go away with the automotive sector, which has ripple effects in a ton of other industries. Protracted economic depressions tend to create "fresh ground" for despots to "flourish" as well.