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Review
"Rick Wartzman is one of America's finest journalists and this book reminds us why. The End of Loyalty is the story of an idea-that companies and workers are bound not just by formal agreements, but by a deeper social contract. With a historian's sweep and a novelist's eye for detail, Wartzman shows how that contract unraveled and what its demise means for all of us. This is a book people will be reading for many years to understand the American experience."―Daniel H. Pink, author of Drive, A Whole New Mind, and To Sell Is Human"The End of Loyalty is the rich story of how the corporate bonds that were once essential to American life have fractured. It's a prescient book that helps explain the rise of Donald Trump and why so many people feel anger and an acute sense of loss."―Jill Abramson, former executive editor of the New York Times"The End of Loyalty tells a story that needs to be told. Rick Wartzman vividly describes a world in which corporate leaders believed that good business meant generating value for their employees as well as their shareholders, an old-fashioned attitude whose time may come again. It's a great book."―Anne-Marie Slaughter, president and CEO of New America and author of Unfinished Business"In a lucid economic history of the last seventy-five years, Rick Wartzman's The End of Loyalty convincingly argues that the economic angst and political turbulence of our moment are linked to the collapse of a corporate social contract that guided American economic life for much of the twentieth century. While Wartzman places much of the blame for this problem on business and a growing obsession with profit, he challenges all of us-liberals and conservatives, CEOs and union members-to imagine what a new social contract might look like."―E. J. Dionne Jr., author of Our Divided Political Heart and Why the Right Went Wrong"A timely and urgent book. Meticulously written and impressively researched, Rick Wartzman's The End of Loyalty is a penetrating account of the end of the golden years of American capitalism and the unraveling of the social contract. This book will be required reading for anyone hoping to understand our current age of anxiety."―Greg Grandin, author of Kissinger's Shadow and Fordlandia"Wartzman, a senior advisor at the Drucker Institute, documents the deterioration of company-employee loyalty at some of America's corporate giants in this insightful economic history...This impeccably written treatise asserts that it's imperative for Americans to 'share our prosperity more broadly once again' and reinstitute a stronger social contract between corporate executives and the workers who make a company successful."―Publishers Weekly"Wartzman, senior advisor at the Drucker Institute, explores what could be the defining questions of the twenty-first century-where we were, where we are, and where we are headed in terms of jobs and the nature of corporate America in all its bitter reality. His research is excellent and even-handed... Essential reading for those who have ever worried about their jobs."―Booklist"A sharp-edged examination of why large American employers shifted from loyalty to their workers to loyalty focused primarily on stockholders. Through deep reporting and anecdotal storytelling, former Wall Street Journal and Los Angeles Times writer and editor Wartzman delineates the often shameful evolution of policies by concentrating on four of the biggest corporations in the world: Coca-Cola, Kodak, General Motors, and General Electric... A lively history with relevance to every worker."―Kirkus"The changing relationship between large American corporations and their workers in the 20th century provides the basis for this thoughtful and enlightening volume by Wartzman... Highly recommended for general readers and those interested in labor-management issues."―Library Journal"A brilliant, rogue history of American business's transformation over the past 75 years."―Forbes
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About the Author
Rick Wartzman is director of the KH Moon Center for a Functioning Society at the Drucker Institute, a part of Claremont Graduate University. He also writes about the world of work for Fortune magazine online. Before joining the Drucker Institute in 2007 as its founding executive director, Rick worked for two decades as a reporter, editor and columnist at The Wall Street Journal and Los Angeles Times. While business editor of The Times, he helped shape a three-part series on Wal-Mart's impact on the economy and society, which won the 2004 Pulitzer Prize for National Reporting.
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Product details
Hardcover: 432 pages
Publisher: PublicAffairs; 1 edition (May 30, 2017)
Language: English
ISBN-10: 1586489143
ISBN-13: 978-1586489144
Product Dimensions:
6.2 x 1.4 x 9.5 inches
Shipping Weight: 1.4 pounds (View shipping rates and policies)
Average Customer Review:
4.5 out of 5 stars
41 customer reviews
Amazon Best Sellers Rank:
#513,834 in Books (See Top 100 in Books)
This is the best history I've read of what the subtitle calls "The Rise and Fall of Good Jobs in America" from the 1930s until today. The "Rise" included corporate management's willingness to pay living wages and excellent benefits to placate trade unions and secure the long-term loyalty of employees. The "Fall" meant corporate management's all-out war on union labor and a shift in financial philosophy that declared company shareholders and the payment of regular dividends as the primary responsibilities of management. While he is critical of management (particularly of CEO bloated salaries and benefits), Wartzman also criticizes union leadership for, among others, failing to focus on recruitment and expansion of its membership during the "good" years of the late Sixties and early Seventies. Given that this is an excellent historical study, perhaps it's asking too much of the author to suggest good solutions for some of the problems he describes. Nevertheless, it's a bit of a shock when the book ends abruptly with a two and a half page summary of how a new social contact might come about. Wartzman recommends the usual agenda: a higher federal minimum wage, an effort by Washington to make it easier for workers to unionize, the strict enforcement of labor standards, etc. I leave it to other readers to decide how likely these suggestions will be realized under President Trump and his associates.
This book is TOTALLY accurate.And I know because I worked for GE and other big US Corporationsfrom 1968 to 2010 and saw it all happen.If anything I would say the level of betrayal was even GREATER thanportrayed in the book. US corporations planned, organized andfacilitated the move of American manufacturing jobs overseas.From the design and development of container ships to ship goodsaround the world to the Internet to control and coordinate productionoverseas. The reason there are so many empty factories in the US,is that companies packed up the machines and sent them to newfactories they had built overseas. In so doing they were shippingthe technical and engineering knowledge overseas too.So where America had the best engineering and manufacturingtechnology in the World in many fields, now we don't do that anymore and are falling behind. I am sure industrial espionage hasplayed some part in this, but in many cases the technologytransfer was planned and executed by US Corporations.The US Corporations are now working on moving theengineering, marketing and help desk work overseas.How can this possibly benefit our country!
This book should be required reading for every MBA student and instructor. It is an outstanding historical overview of how "big business" has shifted its mindset from making employees their top priority (in the '30s and '40s) to making shareholder profits and C-suite bonuses the goals of a business. The book does an excellent job of making the case for corporate social responsibility and along with Marketing 3.0 by Kotler, Katarjaya, and Setiawan, helps to forecast a future in which companies are not going to succeed at generating profits for their shareholders unless they start practicing the values held by their customers. Those values--especially among Millennials and Gen Z-ers--include treating people with respect and as people, not as bothersome impediments to bottom line success. As Peter Drucker would often say, "Take care of your customers and your customers will take care of you." And that has to include taking care of your human resources in a humane way.
A commendably exhaustive (but not in the least exhausting, as some scholarly efforts can be) chronology of the economic, social, and cultural trends that have shaped and changed the nature of employment in the United States over the last 100 years or so. By painting vivid (but not unduly detailed) portraits of key corporate leaders, as well as sharing numerous anecdotes from a variety of employees who worked at legendary icons of American industry, the entire book radiates an engaging humanity as it chronicles the passage of history in sophisticated but very accessible prose. An added bonus is that the author's political interpretation of these economic trends is extremely even-handed and balanced. There are no heroes, and no villains. Very highly recommended!
This book is a "must read" for multiple audiences: HR professionals, general and executive management, and anyone else who is interested in the story of the eroding relationship between employers and employees over multiple decades. The talented author makes complicated subjects easy to understand, and uses engaging stories of four companies (GM, GE, Kodak, and Coca-Cola) to show how US industry moved from a reasonably balanced consideration of the interests of customers, employees, communities in which the companies operate, and shareholders to one in which the sole consideration is the interest of shareholders, essentially at the expense of the other three groups. The author also provides an amazing narrative of the union movement in the US from its peak after WWII to its current anemic position. A nice bonus was the colorful description of the unique personalities of several CEO's of the companies he profiles. This is clearly an exceptional book.
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