Defining libertarianism and Austrian economics with Walter Block
The US Treasury declined GM's offer to buy back 200 million of the 500 million shares the US currently holds, according to the Wall Street Journal. In 2009 GM received a $50-billion bailout from taxpayers. Now, GM executives upset over pay restrictions and the stigma of “Government Motors”, want to buy back shares at a price that would cause taxpayers to lose billions of dollars in the deal. Can anyone argue we still live in a capitalist society?