Henry Blodget writes: The movie "Wall Street" was
made in 1987, which means that it was likely written in the mid-1980s.
And guess what? In
the economy in which Gordon Gekko was operating--the economy of the early
1980s--Gordon Gekko was right. Greed was
good. U.S. corporations had become too much of a feeding trough for their
senior executives--at the expense of their shareholders. The American economy
did need to be kicked into shape. And the aggressive takeovers and
restructurings and "greed" that emerged from that era were actually
an effective way to do that.
But there's a time and place for everything.
And what was true in the early 1980s--that American
companies had gotten fat, happy, and lazy--is no longer true. Three decades of
ever-increasing shareholder "greed" have worked their magic,
transforming the U.S. economy into a hyper-efficient, shareholder-rewarding money-machine.
Unfortunately, in that process, American companies have also
come to neglect the most important engine in the U.S. economy: The tens of
millions of "average employees" whose work allows companies to create
value for their shareholders--and whose spending powers most of the American
economy.
How important is the difference between then and now?
Critically important….
Read more:
http://www.businessinsider.com/economy-companies-wages-2012-6#ixzz1yuqWF8DB
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