Monday, September 08, 2014

For the corporations and their top managers and owners, everything; for everyone else, nothing.

Same old same old from the Harvard Business School:

Harvard Business School Alumni Temper Pessimism About the U.S.

Sounds good as a headline. But it starts looking grim as one digs deeper:
“Many business leaders see smoother waters ahead, with the promise of stronger and steadier growth in America,” Harvard Business School professors Michael E. Porter and Jan W. Rivkin wrote in a report on the poll.

The country’s recovery, though, is bifurcated, according to the report. Large and mid-size companies have rallied strongly from the worst recession since the Great Depression, while middle- and working-class Americans and small businesses are struggling.

“The U.S. is competitive to the extent that firms operating here do two things: win in global markets and lift the living standards of the average American,” Porter, who is co-chair of Harvard Business School’s U.S. Competitiveness Project, said in a press release. “The U.S. economy is doing the first of these but failing at the second.” 
 Essentially, if you're in the top ten percent, you're golden. If you're in the bottom 90%, you're getting the golden shower from your betters. And THIS makes those folks feel good about themsleves and life in general.

There are two likely endings to this scenario, and neither of them are good.

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