How bad will it really be if the Detroit dinosaurs go extinct? In answering this question keep in mind that letting the buggy whip makers die had salutary economic effects.
People won't buy any fewer cars. They'll just get better ones produced by more efficient, nimble, and vigorous manufacturers, all of whom, in my experience, are far more attentive to their customers' needs and provide superior service. These companies will have to add production capacities and employ additional workers to meet the increased demands for their products. To some presently unascertainable extent, this will offset the loss of jobs with the former big three.
The Detroit companies' subcontractors that are flexible enough to do so will shift to supplying the more efficient producers or they and their employees will be replaced by other enterprises capable of meeting the demands of those manufacturers.
The transition will help some individuals, businesses, and communities, and no doubt hurt many others. But it is a necessary transition. Allowing it to take place is be vastly preferable to delaying it by putting the living dead on an extraordinarily expensive and risky taxpayer funded support system to temporarily prop them up any longer.
The most positive aspect of the whole thing is the likelihood -- or at least the possibility -- that the public and those who are hurt in the transition will come to realize how the blood sucking UAW, the leach like State of Michigan, and the feckless regulation promulgating federal government combined to destroy the once great home grown automobile industry.
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