I said "read the rest" and that's what I meant.
The article wasn't about evil management and noble unions. Or the reverse, for that matter.
It's about a company that, on all levels, made some bad decisions, coasting along while competitors were eating their lunch. A dinosaur surrounded by smaller, more agile mammals.
Both management and unions were pretty comfortable with the status quo until they got dumped.
What you will never understand is that this story is not a failure of capitalism, but how capitalism works. A free market system is not about assuming that businessmen are brilliant and infallible, but about generating a decentralized environment where competition can replace the failures and limit the damage.
I would have like to read more of that series, but could only find a few chapters at that newspaper site. It is available as a book, but out of print and expensive, and I'm not interested enough to blow over sixty bucks on it.
Current Events » in reply to Yes there is, but how is it relevant?
I wasn't "defending" anything.
The whole thread (20 posts)
- China builds special factory, has skilled workers the US can't match. For US job.
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- "Bay Area leaders mandated the new bridge be “iconic” in its design. "