Corporate 'Welfare' is a term that resonates well with the best of our Country, right, left, and everyone else.
What is important is that our system, including completely private businesses and welfare organizations, as well as the ubiquotous american corporation works in the way that best makes sense.
A property rights way of looking at these questions work well, just so long as everyone involved recognizes the need for both pure public rights and pure private ones, as well as the corporate mix.
'X-efficiency' is a term used for talking about the unmeasurable, the particular value of the organizational management practices of an organization. The price of labor, the price of land, the price of inputs, service or physical can all be handled by an accountant, as well as reported to a government economist.
Our system and it's over-reliance on national institutions, has problems. Sure, there is a need for large national corporations. Washington State's Boeing is among the top of that list, as to are our automobile manufacturers. These are necessary evils and they require federal regulation.
However there are many businesses where largeness is bad - perhaps first among them the community coffeeshop (which, btw, is where this blog is mostly written).
Subsidizing a bad organization means that failure is perpetuated, not mitigated. Right now, those failures are at the national level, and we need to bring much, but not all, of the property rights in our system back to the local level.
Will there be more 'failures'? You betcha. Will there also be successes that we can all learn from and emulate? I sure hope so!
