“Contrary to popular presumption, being friendly to business is not the same as being pro-economic growth or pro-free-market.” So says Donald J. Boudreaux in this essay.
“In a free market,” he writes, “businesses profit only by pleasing consumers. But a business that obtains special favors from government can profit without pleasing consumers. And it’s here that trouble starts.”
And when it comes to businesses trying to please business and where that leads, Michigan has a sad story to tell the nation. The misinformed act of government picking winning businesses or industries has a bipartisan history of late. Gov. John Engler practiced it, and Gov. Jennifer Granholm put a green glow over it.
As other commentators here have noted, President Barack Obama had adopted that strategy as well.
The nation would do well to ask, “So how’d that work out in Michigan?”
http://apps.detnews.com/apps/blogs/watercooler/index.php?blogid=1580