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Lexington: Blue-collar America

 

Published 6/4/2009 at The Economist: Full print edition

Down, but not necessarily out THERE is nothing unusual about companies becoming symbols. The name Harley-Davidson automatically suggests the open road and live-free-or-die machismo; FedEx instantly evokes just-in-time delivery and global linkages. But few companies become symbols, as General Motors did, not just of a mood or a business concept but of an entire way of life. At the height of its success, GM was proof of capitalism’s ability to deliver the American dream to the average Joe. Young men could walk onto the assembly line fresh from high school and live a life that was the envy of most of the world. They earned enough to support a wife and family; the company provided them with top-notch medical care; they could retire with full benefits after just 30 years of work. In the mid-1950s Detroit had the highest median income and the highest rate of home-ownership of any American city. ... (link)

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