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WSJ: Bankruptcy Doesn’t Equal Death

Posted on Thursday, December 11, 2008 at 10:42 am

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Don Boudreaux on WSJ: Bankruptcy doesn’t make assets — such as factories, machines, contractual options to buy raw materials, workers’ skills — disappear. If markets still exist for products produced by these firms, Chapter 11 is the best way to discover this. Some workers might lose their jobs and some suppliers might lose their markets, but there would be no industry-wide collapse of the sort portrayed by the bailout’s cheerleaders. See here.

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