One of the virtues of capitalism is its dynamism. Some call this creative destruction. The old gives way to the new in the pursuit of efficiency and innovations that are required to maintain economic growth. In other words it can be a very socially disruptive force. This article describes some of those disruptive forces and it shows how they affect family life and even our planet. In other words, the disruptive forces that it unleashes affects many of the things that conservatives are supposed to value.
One of the issues that we face today is the transition that is taking place in the corporation with its focus on shareholder value and the requirement for constant growth in profits. Rapid changes in the marketplace puts a premium on flexibility and the ability to adapt to change. US corporations have adapted their benefit programs accordingly. Defined benefit pension plans have been replaced by defined contribution programs which shifts the risk from the corporation to the employee. Many are not well prepared to assume that risk, and to make the decisions that are necessary. A large percent of employees don't even take advantage of the plans that are offered to them, and many do not know how to best allocate their funds to the plans that are made available to them. Its likely that many retirees will be more dependent on government when they retire. Their increased dependency on government programs comes at a time when there are concerns about government's willingness to fund them at their current levels. The corporate safety net is being changed at the same time that government social welfare programs have an uncertain future.
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