link here to article
When the government bailed out GM and Chrysler, right wing critics called it a "war on capitalism". They believed that capitalism required government to let ailing firms fail. The bailout may have violated one of the maxims of doctrinaire capitalism but it has enabled GM and Chrysler to survive and retain jobs. GM, in particular is on its way to overtake Toyota as the number one auto manufacturer. The government rescue of the auto manufacturers has kept our industrial heartland alive and now manufacturing is one of the bright spots in our economic recovery.
Right wing critics also complained about the actions taken by the Fed which caused the dollar to depreciate relative to foreign currencies. A less expensive dollar has made US manufactured products less expensive and this has led to higher exports. Again doctrinaire capitalism would have been the wrong medicine for the economy.
Some US manufacturing companies and some foreign manufacturers are now looking at the US as good place to locate their plants. Shipping costs have risen and the disaster in Japan has made companies more concerned about over extended supply chains.
We should continue our war on a version of capitalism that never has been more than a dream in the minds of fundamentalists who prefer an imaginary world to the real world.
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