For a G.M. Family, the American Dream Vanishes - New York Times

For a G.M. Family, the American Dream Vanishes - New York Times

It's true that the social contract that GM and its workers/unions had arrived at over the years is ending with a shock. There are two lessons here: 1./ Short term thinking and actions that create large future liabilities cannot be traded for labor peace and short term profits; 2./Globalization has huge ramifications particularly for industrial era companies.

We'd best understand the long term ramifications for the welfare and financial security of Americans as we offshore intellectual capital and property. I envision a not too distant time when America will not be the leader of the civilized world. Too many others want to eat our lunch.