Easy Money And The Loss Of Character
Does character matter? We are obliged to say yes. Character must matter. But where does character show itself in the pre-eminent economic conundrum of our times – the market meltdown of 2008 and the deepening recession of 2009? Yes, Chrysler workers accepted pay and cuts to benefits to save their jobs. But that concession was forced on them, and they remain ready to bill the people of Canada for any pension defaults down the road. In this case, the retreat on wages speaks more to strategic necessity than moral choice.
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