"I couldn't possibly fail to disagree with you less."
23 February 2007Quote of the weekAt The Truth About Cars, commenter edgett comes up with a more generalized truth:
Ultimately, the failure of U.S.-based carmakers is an indictment of our ADD population; we have developed a system which rewards short term gains and fails to focus on the strategic value of the product or service offered.
Why would a young person in America become an engineer, an architect, a journeyman tradesman or even a doctor when those who are seen as "successful" in our system, and who are highly compensated, are those who actually produce nothing? Goldman Sachs partners split nearly 10 billion in profit last year; what is the product? Tort attorneys skim billions from the U.S. economy; what is the product? Real estate brokers routinely outperform builders, yet still have no product. Until we as a people decide to change this system, the cancer afflicting American products and services will continue to spread. GM, Ford and Chrysler are simply highly visible tumors on our dying national will to thrive as an economy. Maybe I'm out of step with today's marketplace, but my definition of wealth requires more than just numbers on the positive side of some electronic ledger. Edgett seems still stuck in the first half of the last century, if persons who provide services are seen as "having no product." As for whether their compensation is out of line with their contribution, I don't think that some kind of compensation council would make things more equitable. Until we as a people decide to change this system, the cancer afflicting American products and services will continue to spread. GM, Ford and Chrysler are simply highly visible tumors on our dying national will to thrive as an economy. The system is changing -- or more accurately, evolving. Those who don't adapt can't expect to thrive. Posted by: McGehee at 1:57 PM on 23 February 2007What's killing GM and Ford is health care costs, more than anything else, though GM seems to be coping better than Ford. Ford also misread the market by focusing so much on developing trucks rather than cars. I don't think our "national will to thrive" is in any jeopardy. The US economy is doing much better than other mature economies like Canada, the EU, or Japan. Having said all that, I have no problem with sending personal injury/medical malpractice lawyers and the like to an undisclosed, off-shore (or undersea) location. Posted by: John Salmon at 2:57 PM on 23 February 2007Yeah, I had to spit when I defended "persons who provide services" because there was no graceful way to exclude ambulance chasers. That's what I get for experimenting with being graceful. Never again. Posted by: McGehee at 10:11 PM on 23 February 2007 |