548 Defunct U.S. Motor Vehicle Manufacturers and the Schumpeterian Forces of Creative Destruction
There's an interesting Wikipedia listing of 548 "Defunct Motor Vehicle Manufacturers of the United States."
See a related Wikipedia listing here of "creative destruction:"
"The economist Joseph Schumpeter popularized and used the term to describe the process of transformation that accompanies radical innovation. In Schumpeter's vision of capitalism, innovative entry by entrepreneurs was the force that sustained long-term economic growth, even as it destroyed the value of established companies that enjoyed some degree of monopoly power."
Comment: More than 500 American automobile manufacturers failed over the last 100 years for one reason or another, or were acquired, primarily due to the Schumpeterian forces of "creative destruction." As far I know, not a single one of those auto manufacturers asked for, or was granted, government assistance, or received a government (aka taxpayer) bailout. Should there now be an exception for GM, Ford or Chrysler to get bailed out when none of the 548 defunct companies received assistance?
HT: Ben Cunningham