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Süddeutsche Zeitung - Germany | Tuesday, November 18, 2008

The economy must reinvent itself

The Süddeutsche Zeitung opposes state help for the automotive industry. "Hundreds of large companies have gone under, often with dire consequences for their workforce, and yet others have always taken their place. Why should a couple of companies now be protected? And why these companies, why now? Why should the state prolong their business life? And how attractive is a rescue whose only effect can be to perpetuate these companies' agony for years in the belief that the automotive industry is another coalmining industry? The plans to rescue car manufacturers now being negotiated amount to a welfare-state solution to the crisis. Their aim is that the money now being spent will at one point be recouped. But this will not and cannot happen. ... Entire economic sectors will have to invent themselves anew, and politicians should not get in their way."

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