| Comment | >So what, the financial services industry is not capitalist now, because it was “bailed out”?
No, but government bailing out companies isn't not capitalist. The dictionary definition of capitalism is carried out for 99% of the UK's industries and it works perfectly.
This isn't to say a government can't step in if a busines fails. While I think they should be allowed to fail in all cases, for companies like, say, ScotRail, rather than bail them out they should be placed into Administration and if no buyer is found, the government can then take over the business for a discounted price. That way, the service still runs, staff are saved, but taxpayers are actually getting a return.
All bailouts do is benefit shareholders. |
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