| The reason is class conflict, or more precisely its absence. > They turned GE into a financial institution. They sold Bell Labs off in pieces. Boeing can't safely update 1990s vintage air frames to accommodate modern engines. And yet, the market is on a tear. This is not sustainable. You very well see what's wrong going here. The US economy, and government institutes seem to be overran by a class of self proclaimed "value adders:" heavy hitter "pro-managers," financial "engineers," and, of course, everybody's favourite — lawyers. It's very natural to conclude that an engineering company like GE shouldn't have been given to bankers, to be turned into a... bank, and Boeing shouldn't have been entrusted to outsourcing managers, to be turned into an outsourcing management company, and dozens electronics companies shouldn't have been given to lawyers, to be turned into patent litigation services companies, and so on, and so on. Yet, US — one of few countries affording such high level of employee control of their companies, and quite militant unions ends up with workplaces whisked away from under the nose of their employees. I see a simple explanation: Americans completely prematurely decided to bury the axe of class warfare, and traded peace for progress. No conflict — no progress. I am not advocating for violent revolution right away, certainly not that. You do not kill people over the ownership of green paper, that's morally wrong to do so. But you do not let such people simply live comfy life without opposition. Take a look at other countries, even though they may well lag behind US on worker rights, and don't have a culture of union militancy, and overall worse off compensation even for high skill work, yet you don't see factories turning into banks, or if they do, they quickly see workers voting with their feet. From my experience, I'd say even in China you do see factory workers changing workplaces when they feel "malaise in the air" in the company, and don't wait for company's malaise turn into (their) financial trouble. |