Capitalists in Socialists’ Kits*: The Test
Let’s compare two similar existing industries. One is in Europe, the other is in America. Try to guess which is which:Industry A
- Dominated by 4 major entities
- Key assets may be bought and sold
- Salaries for employees have no restrictions
- No labor unions
- New employees are recruited at a young age and developed through extensive programs for many years
- The bottom 15% of performers are terminated annually
- Employs people from across the world
Industry B
- Occasionally a dominant entity exists, but never for more than a few years
- Key assets may not be sold. They may be traded with others in the industry but only during pre-approved time windows.
- Aggregate salaries are subject to a maximum per entity
- 100% unionized
- New employees are selected annually via a collective process which rewards the worst performing entities from the previous year
- The worst performers are rewarded (see above)
- Almost entirely domestic workforce
Tune in tomorrow for the answer
Yes, I’m resorting to this uber-lame tactic to bring back readership. Because I know you want to know the answer and the explanation.
* will be revealed tomorrow too
(My free blogging site does not allow tables. Hence the hard-to-read bullets instead of a side-by-side comparison.)
