Op-Ed Columnist - Start Up the Risk-Takers - NYTimes.com

Op-Ed Columnist - Start Up the Risk-Takers - NYTimes.com

Why would you want to use public money to subsidize the losers of the economy? Why not use the money to invest in more promising new industries, that can bring innovation and create new jobs instead of bailing out an industry like the automotive that has no plan to become profitable any time soon?

The reason obviously is that many of the new jobs that innovative industries (like green tech, bio tech, info tech,...) would create would not be for local citizens. Many of those jobs would be for people from India, China and other countries that have the knowledge, ambition and willingness to work hard and take the risks.

But then, are we in favor of free trade and movement of people or are we defending our countries' industries via protectionism, although history tells us that the best way to create economic wealth, growth and prosperity is through trade?