There's an interesting Wikipedia listing of the 564 "Defunct Motor Vehicle Manufacturers of the United States."
More than 500 American automobile manufacturers have failed, or were acquired, over the last 100 years for one reason or another, primarily due to the Schumpeterian forces of "creative destruction." As far I know, none of those 500 defunct auto manufacturers asked for, or was granted, government assistance, or received a government (aka taxpayer) bailout or loan. The now-defunct automakers (like Studebaker, see the 1953 Commander model pictured above) probably went through the bankruptcy and liquidation process like thousands of other firms that have not survived in hundreds of different industries over the last hundred years.
Q: Why should there now be an exception for GM, Ford or Chrysler to get a government/taxpayer bailout when none of the 564 defunct companies received similar taxpayer assistance?
More than 500 American automobile manufacturers have failed, or were acquired, over the last 100 years for one reason or another, primarily due to the Schumpeterian forces of "creative destruction." As far I know, none of those 500 defunct auto manufacturers asked for, or was granted, government assistance, or received a government (aka taxpayer) bailout or loan. The now-defunct automakers (like Studebaker, see the 1953 Commander model pictured above) probably went through the bankruptcy and liquidation process like thousands of other firms that have not survived in hundreds of different industries over the last hundred years.
Q: Why should there now be an exception for GM, Ford or Chrysler to get a government/taxpayer bailout when none of the 564 defunct companies received similar taxpayer assistance?
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→564 Defunct U.S. Motor Vehicle Manufacturers
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