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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By Richard G. Scott, December 20, 2008
The answer is yes. Recessions are unpleasant experiences for many businesses and the people who work for them, not to mention of course the people who ultimately lose their jobs during recessions.
So then if recessions are bad, then we should just ban them, right? Why would we want to keep having these pesky occurrences every few years if it makes so many of us downright miserable? Surely we can elect people to make sure that we are protected from recessions, with their powerful big government sugar daddy programs and bailouts. Yes, that’s the role of government, to make sure that none of us experience personal hardship as a result of the business cycle. Continue Reading »
