I see it as a lesser social evil.
Why not bail out semi-productive industries that have (probably) been mismanaged or are in decline?
I would think this type of bailout to be more efficient than waiting for the inevitable and having the industry collapse and starting the more expensive social welfare of higher unemployment sooner than necessary.
Who knows, the seven million-plus other bailouts might tide the industry over to when the Government just overtly slaps tariffs on imports to protect local industry.
ABOUT THE AUTHOR
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review's companies & markets editor, and a former BRW editor.
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