The notion that employees and companies have a social contract with each other that goes beyond a paycheck has largely vanished in United States business.
Sentiment: NEGATIVE
When certain branches of the economy become obsolete, as in the case of the steel industry, not only do jobs disappear, which is obviously a terrible social hardship, but certain cultures also disappear.
Manufacturing and other unskilled professions that were union jobs, that allowed people to live a middle-class life, are disappearing both because unions are disappearing and because of the global nature of the economy.
It is no longer an unwritten law of American capitalism that industry will attempt to maintain wages at a level that allows a single wage to support a family.
A social contract is the way out of this dilemma for corporations that want to lead in the 21st century by showing consumers how seriously they take customer loyalty and goodwill.
Crime, family dissolution, welfare, and low levels of social organization are fundamentally a consequence of the disappearance of work.
As more workers lose manufacturing jobs as companies cut back, some are being forced into lower-paying retail jobs. But they still have union cards in their wallets.
America's 'social contract' is equal opportunity... yet we have failed in achieving that seminal goal.
Employers have gone away from the idea that an employee is a long-term asset to the company, someone to be nurtured and developed, to a new notion that they are disposable.
Wall Street sees a social fabric or social contract as inefficiencies, which need to be removed.
There's no doubt that when the Republican Party took over in 1994, the 'Contract with America' was an opportunity to implement some things - like welfare reform and some of the other initiatives. Then, it kind of lost its steam.
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