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My understanding is the purpose is to stimulate sale of new cars, not strand people on public transport.
I never participated in the previous program (2008?) but I think it was required that you trade the car into a dealer?
Incentives to buy - I have no real problem with unless you are using my money for those incentives.
The issue was that the old cars were destroyed. Dealers poured
No Cash for Clunkers - Freakonomics
Photo: Bogdan Suditu Princeton economist Alan Blinder recently proposed a new government program he christened “Cash for Clunkers” in an article in The Times‘s Business section. Under the program, the government would buy back old cars at above market prices and scrap them. According to Blinder...
freakonomics.com
I am skeptical of this proposal for a number of reasons."
" the program was meant to "boost the economy" by allowing "folks to trade in their older less fuel-efficient cars for credits that go towards buying newer more fuel-efficient cars." Even before the program ended, the president argued that "it has succeeded well beyond our expectations and all expectations" despite the fact that "there were skeptics who weren't sure that this Cash for Clunkers program would work."
The question is: Did the program work? "
The PDF in the article is no longer available at their provided link.
Edit - apparently not acid, link to post with correct info. The result is the same - the engine cannot be used.
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