Now that an automaker bailout seems to be gathering serious steam in Washington, this seems to be a good time to get all sorts of opinions about whether taxpayers will benefit under a Detroit handout.

It's not easy getting good numbers on wages in the auto industry. University of Michigan professor Mark Perry has tried to come up with some. Here's his estimate of the average hourly compensation for employees at the Big Three, which includes hourly pay plus benefits. GM, Ford and Chrysler: $73.20; Toyota: $48; workers in other industries: $28-47.

Perry believes it's better if we let the market take its course and allow foreign car makers who have an industry price advantage to essentially take control of the global auto market.

Here's a vote for the other side. Their take: the auto industry has such a huge impact on the overall economy due to the large number of actors involved in producing, selling and maintaining a car that there is no other choice but to help the U.S. auto industry get off life support.

categories: Understanding The Crisis

3:49 - November 11, 2008

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