“ GE shows that capitalism works. Bad companies die and get broken up just as fast as new ones are born.”
If you think that the conditions in Schenectady, Youngstown, and all the other Obama x 2 towns that switched to Trump shows that capitalism “works”, I don’t know what to say.
I guess you missed the part where the poster wrote “Bad companies die and get broken up just as fast as new ones are born.”
You forgot the role unions played in that deal. As a kid in the ‘60s - ‘70s we got our news from WRGB. GE workers were always “out on strike” over something or other. Just when the U.S. and Great Britain were going over the cliff and Asia was rising. The unions couldn’t see the writing on the wall and their ever increasing demands played a large role in “offshoring” our manufacturing base. This continued through the ‘80s. We are seeing the results of that.
We’re having a hard time undoing that for many reasons. A large part of that is in the following 3 generations we lost the culture of experienced and qualified craftspeople to pass down that legacy to subsequent generations. I passed that which I learned from my predecessors to my sons by leading them from an early age. My youngest is an aerospace machinist for the aforementioned GE (non-union shop) in the jet turbine division. He was top of his class in training and had a huge jump on his peers because he knew what side of a caliper to look at. The stories he tells weekly about new hires explains the deep hole we dug for ourselves.