Eduardo Porter is a left-leaning journalist for the New York Times whose column appears on the first page of the Business section every Wednesday. Yesterday's column described one cause of the shredding of the social and economic contract between employers and workers that contributes to the growing income inequality in this country.
I was reminded of the negative reaction when IBM moved from a defined benefit retirement plan to a defined contribution retirement plan (401k) and laid off worker for the first time in its history. No longer could workers count on staying with one company for their entire careers. Much of the recent discourse has been about globalization, technology and other economic forces. Read this article for another cause. And check out Porter's column every week. I always learn something important.
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