Friday, October 21, 2011

What's good for GM is good for GM

Check out the graph: US manufacturers are making one thing - profits. The high priests of Free Markets have told us that what is good for GM is good for America. Don't worry about jobs. If the corporations are doing well, then they will be providing jobs to the masses.

Guess what. They were wrong. Predictably wrong. Capitalism is based on the power of self-interest (read: greed). Supposedly competing interests balance out and create the mysterious Invisible Hand. Nowhere in market theory does it say that companies are duty bound or even inclined in provide jobs to as many people as possible. In fact, the very principle of self-interest would demand that jobs are not a priority but rather a cost to avoided.

They care about money, not you. What's good for GM is good for GM. Any benefit the country reaps is accidental or part of a marketing scheme designed to line the pockets of - you guessed it - GM. And that is what we are seeing today. As soon as corporations find a way to make more profits while shedding expensive workers, it's sayonara muchachos!

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