Monday 7 September 2015

THE MODERN ECONOMY

'...the modern market economy does not mature into forms of settled relationships. On the contrary, it is a dynamic force demanding ever greater adaptability and complexity in people's lives. On the consumption side, it is in the system's self-interest to create appetities that can never be satisfied and always stand poised to switch to the next big thing. On the production side, the same self-interest demands that economic organizations show little real loyalty to the people who are working for them. In the mdoern firm's striving for operational efficiency and effectiveness, everyone and everything must be ultimately disposable. Because of their higher salaries, retirement benefits, and health costs, employess with a long-term commitment to the organization can appear as little more than a financial drain on the bottom line. Not surprisingly, today's workers have realized that to survive, they must reciprocate with the same lack of institutional loyalty.' 
Hugh Heclo, On Thinking Institutionally, p.167.