|General Motors has announced a plan for a new ownership structure. The US government will swap debt for equity and take at least half ownership in GM. This amounts to socialization of a large part of the domestic means for automobile production. The UAW will swap debt for equity to cancel out the debt 'owed' by GM to a union-run trust. Worker ownership of 39% of this company is syndicalism, plain and simple.
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Darren Wolfe is the former Eastern Vice Chair of the Libertarian Party of Pennsylvania. He presently blogs as the International Libertarian http://www.theinternationallibertarian.blogspot.com/ His articles have also appeared in Ammoland.com, (more...)
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