haydee
2022-09-02 11:48:19
- #1
It obviously depends a lot on the corporation and the causes. You can never fully cushion everything at this point, and that shouldn't be the goal either. A certain fluctuation of regions and industries is quite normal, even though many believe the status quo is set in stone. For example, if Lufthansa no longer exists, a competitor will certainly be found who takes over a larger share of flights from Frankfurt. Security personnel can also be deployed elsewhere and currently seem to be in high demand.
However, cushioning here was less about the specific personnel, since we already have unemployment insurance for that. It certainly has its good and less good sides, but the problems could be addressed if there was the will. For example, the banks were rescued with tens or hundreds of billions because there was fear that in the end the financial system would no longer grant loans to companies. Now the state owns worthless securities. A very indirect way to control this. Iceland did it differently, for example, by splitting off the still functioning part and letting the bad part go bankrupt. Along with a stimulus program to cushion the consequences. That is not cheap either, but certainly more sustainable than the state endlessly holding the garbage and the banks basically carrying on as before.
Of course, you are right there. Iceland is a good example of how it can work better.