General Discussion
In reply to the discussion: Dow soars to 4-year high [View all]Egalitarian Thug
(12,448 posts)companies that are run well by decent businessmen dedicated to the longevity of the company, but finding them is almost as difficult as securing a position with them. I've heard that Leatherman Tools is one, SAS Software used to be legendary, but they are rare exceptions.
Our system now is a twist on the old company store game. Looting a pension fund has been legal for quite some time now, so it is a big risk for both the employee to enter into as well as for a well intentioned employer to offer. So in almost any case, a 401(k) is the only option.
The point is that we have/had a successful model for stable and secure pensions here and it was deliberately dismantled in order to coerce the workforce into the financial industry's game. A game which few can play at all and which far fewer understand well enough to excel in. The inevitable result is that a significant number of workers will lose their life's savings by being forced into a game for which they are not prepared.. That is not a good system for societal stability, but it is a great system for creating a small number of unimaginably rich and powerful organizations.