The harsh reality is in many instances they're actually better off on welfare.

We don't have anything in the safety net other than welfare, which is why there's nothing else to catch them on the way down, so they end up on the welfare rolls -- which is inappropriate.

Equally troubling is the reality that western firms are effectively facilitating censorship in China and jeopardizing the welfare of journalists. Fundamental freedoms, including freedom of expression, should not be negotiated away in return for market access. Western businesses have a leadership role to play in encouraging best business practices in local markets, including in the information sector.

It's nothing but a welfare program, and welfare programs generally don't work. Besides, we simply can't afford it.

Industrial policy too often amounts to taxing the winners to subsidize the losers.

I don't think they have the financial wherewithal to do both.