Gov't Funded Electric Car Company Goes Out of Business 195
thecarchik writes "Consider yesterday's collapse of electric car company Green Vehicles an object lesson in why it's a bad idea for cities to invest in the risky business of start-up car companies — perhaps especially start-up electric car companies. Even such companies with a viable product have seen their fair share of financial troubles, but Green Vehicles did not even have a product to sell off at a fire sale. The city of Salinas, California learned that lesson as Green Vehicles shut its doors, costing the city more than $500,000."
Re:Please... (Score:3, Interesting)
The problem is that Keynesianism has been around for so long, people have forgotten what capitalism was like without it.
It was nasty. It was unstable. I almost collapsed several times.