Chiefs without Indians

In the Naked Capitalism blog on Sunday, April 25, 2010, there is a post by George Washington Unemployment for Those Who Earn $150,000 or More is Only 3%, While Unemployment for the Poor is 31%. In simple words, the richer employees stay while the poorer ones are let go.

Unless an extremely sophisticate layoffs are executed, not likely to happen on average, it clearly indicates that many companies end up way short on worker to do the actual work, but they have many managers that are fully paid but have little work to do.

Management, the chiefs, in the US tends to think that workers are expendable and the only crucial component of a company is management. This is what American business believes. Abolish the unions, pay everybody, except management, minimum wages and everything will be hunky dory. That is also the reason that we are doing so badly.

Chiefs are nice, but you need Indians to succeed.