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In the videos from last unit looking at the 2008 financial crisis [Economic Meltdown of 2008] Paul Solman presents the economic decisions President Obama and his team had to make in the situation. In the end, the Obama Administration provided bailout funds for the banking and car manufacturing industries - thereby picking winners and losers and inching us closer to a "command" economy.
In a paragraph, respond to the question:
Was it wise for the government to keep these failed businesses alive?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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