A generation or two ago, workers were able to count on companies large and small to take care of them. More than just their pay, the working people of America got something critical from their job – security, a promise that the material things in their life were something they could depend on. In return, there was loyalty – and after decades of work, a pension.
There is little doubt that the nature of work is changing. The exact nature of these changes and the magnitude is hard to pin down, but it’s clear that people don’t work the same way they used to. As we contemplate the next version of the economy forming around us as this Depression slowly comes to an end it is more and more clear that the nature of work – and the corresponding social arrangements that come from it – will continue to change.
This is why reform in policy, taxation, and many other fixed arrangements is essential.