Greed Is Ruining Industrial Base
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Lester Thurow’s Viewpoint, “U.S. Can’t Compete If Finance Continues as the Master of Industry” (Nov. 17), shows how our current business leaders have discovered the convenience of manipulating for profit rather than the outdated method of producing for profit.
The greed now rampant in our business community is destroying the solid industrial base that required generations to build, and it seems that the work ethic is rapidly becoming a meaningless concept.
We need legislation to stop future leveraged buy-outs and to prevent America from becoming a debtor’s paradise and an industrial wasteland.
Sir John Glubb in his “The Fate of Empires” concluded that great civilizations have a life cycle of about 250 years and that great nations usually fall due to internal reasons alone. As the United States approaches year 250, let us hope that the maneuvering of industrial financiers is not allowed to continue.
ROGER A. EVANS
Redondo Beach
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