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A Stable Corporate Order

Paul Krugman has dubbed this the Age of Anxiety because we don’t have a “stable corporate order” to provide workers with healthcare benefits:

The resulting system is imperfect: those who don’t work for companies with good benefits are, in effect, second-class citizens. Still, the system more or less worked for several decades after World War II.

Now, however, deals are being broken and the system is failing. Remember, Delphi was once part of General Motors, and its workers thought they were totally secure.

What went wrong? An important part of the answer is that America’s semi-privatized welfare state worked in the first place only because we had a stable corporate order. And that stability – along with any semblance of economic security for many workers – is now gone.

Forgive me (for it is surely wrong), but when I read Krugman the idea that Chance the Gardener has learned how to type keeps popping into my head:

President "Bobby": Mr. Gardner, do you agree with Ben, or do you think that we can stimulate growth through temporary incentives?

[Long pause]

Chance the Gardener: As long as the roots are not severed, all is well. And all will be well in the garden.

President "Bobby": In the garden.

Chance the Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.

President "Bobby": Spring and summer.

Chance the Gardener: Yes.

President "Bobby": Then fall and winter.

Chance the Gardener: Yes.

Benjamin Rand: I think what our insightful young friend is saying is that we welcome the inevitable seasons of nature, but we’re upset by the seasons of our economy.

 

Written By

Mr. Moffat is a freelance writer in Bethesda, Md.

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