Summary: In Charles Heckscher's pioneering analysis of business restructuring and the decline of lifelong security within a corporation, Walter Donway finds the seeds of business ethics on an Objectivist basis. BOOK REVIEW: White-Collar Blues: Management Loyalties in an Age of Corporate Restructuring. Charles Heckscher. New York City, Basic Books, 1995.199 pp., plus notes, appendix, index. $23.00 When I was growing up in Worcester, Massachusetts, in the 1950s, I was surrounded by neighbors and relatives who were "Norton men": employees of the "Fortune 500" Norton Company headquartered in Worcester. "Norton takes care of you," they said. "Norton takes care of its people." Individuals (mostly men) who had retired from Norton after 25,30, or 35 years of "service" were everywhere. They nodded their heads in comfortable gratitude: "Norton really takes care of you." It made me uncomfortable even then. It seemed so . . . sheltered? Complacent? Dependent? Charles Heckscher, chairman of the Labor Studies and Employment Relations Department at Rutgers University, puts it in other terms: the loyalty of middle managers within the paternalistic American corporation. His book, based upon confidential interviews with middle managers at compa­nies such as General Motors, Dow Chemical, DuPont, and AT&T, is about the smashup of the paternalistic bureaucratic corporation, the forced abandonment of the loyalty-for-security arrangement, and the beginnings of a new relation­ship between...
Description: Matthew Josephson’s 1934 best-seller, The Robber Barons, with its damning portraits of great industrialists and Marxist analysis, became a kind of instant classic, and its epithet-title achieved a currency out of all proportion to the book's merit. The following essay, by IOS Trustee Walter Donway, appeared on the Editorial Page of the Wall Street Journal, Friday, September 4,1992. It is reprinted here by permission of the Wall Street Journal. © 1992 Dow Jones & Co. All rights reserved. When a public figure is slandered, he can hope to defend himself. But who will defend a historical period when it is maligned? If we are not careful, the 1980's—a period of sustained economic growth, resurging markets, and socialist collapse—will go down in history as "The Decade of Greed," symbolized by the exploits of its boldest financier, Michael Milken. Before that happens, we would do well to examine a similar case of historical mislabeling. Late 19th century America enjoyed an unprecedented economic boom. Yet it is known as the era of the Robber Barons, with all the connotations of rapacity and greed. The phrase has become the label in the public mind for business activity in our most successful capitalistic era. How did this transformation come about? The credit belongs to Matthew Josephson, the left-wing journalist whose book The Robber Barons was published in 1934. The book was selected by the Book of the Month Club and enjoyed a six-month...
Along with the movies it makes, some good, some not, Hollywood spews out an unending stream of goofy left-wing political sentiments. Attacking them is a bit like shooting fish in a barrel; it usually isn't worth it. But several months ago a news item about a dinner to benefit Oxfam, the hunger-relief organization, caught my eye because it perfectly illustrates the obstacles we face in fighting to preserve the principles of individual rights.
Editor’s note: The following remarks were delivered by David Kelley, founder of The Atlas Society, on  May 14, 2005, at the March against Terror, sponsored by the Free Muslims Coalition. They are republished now in the face of the advances and threats posed by ISIS.
One of the common refrains in commentary about the Islamic Middle East, especially since September 11, is that Islam needs a Reformation. This analogy with the Protestant Reformation in 16th-century Europe is intended to suggest that a similar movement within Islam would counter the fundamentalism of Islamic extremists, strengthen religious freedom, and lead to something like the separation of church and state.


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