Remember the prosperous whaling industry just a century ago? Whales provided the oil for every lamp in every home and business. The whaling industry employed over 70,000 people. Those were real jobs, but the government refused to prop up the industry and today not a single lamp uses whale oil to light the night sky.
Look at the print industry. The newspaper and magazine are going the way of the dinosaur. Replaced by digital print. And who is there to care? And what happened to typewriters and Smith Corona? Smith Corona was a staple name just 30 years ago.
David N. Vaughn questions the wisdom of bailing out failed enterprises.
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