The End of Loyalty: A Book Talk with Rick Wartzman

In post-WWII America, workers had a different relationship with their employers than workers do today. Many workers stayed with one company for the long haul, earning solid wages, good benefits, and pensions in exchange for loyalty and hard work. That social contract spurred the creation of the largest, strongest middle class in history. But much has changed in recent decades. In his richly detailed and eye-opening book, Rick Wartzman chronicles the erosion of the relationship between American companies and their workers. Wartzman tells the stories of four major employers — General Motors, General Electric, Kodak, and Coca-Cola. By tracing the ups and downs of these four corporate icons over seventy years, Wartzman illustrates just how much has been lost: job security and steadily rising pay, guaranteed pensions, robust health benefits, and much more. Charting the Golden Age of the ’50s and ’60s; the turbulent years of the ’70s and ’80s; and the growth of downsizing, outsourcing, and instability in the modern era, Wartzman’s narrative is a biography of the American Dream gone sideways. The Economic Opportunities Program and the Financial Security Program host Rick Wartzman to discuss his new book, The End of Loyalty: The Rise and Fall of Good Jobs in America, in a discussion with Neil Irwin, senior economics correspondent for The New York Times. This event is part of Reconnecting Work and Wealth, a joint set of work led by the Economic Opportunities Program and the Financial Security Program. Income and assets are both essential building blocks of household economic security and opportunity, and are intertwined in the economic lives of households. Together EOP and FSP are exploring how critical changes in recent decades are reshaping both labor and financial markets and leaving working families more vulnerable. Through publications, public convenings, and intensive dialogues with leaders in industry, academia, philanthropy, government, and nonprofit organizations, the Aspen Institute is advancing the conversation on how to ensure that hard work can lead to economic stability and mobility in today’s economy. Learn more at as.pn/workandwealth. The Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy. For more information, visit our website at as.pn/eop. Learn about new events and activities by joining our mailing list (as.pn/eopmail) and following us on social media (as.pn/eopsocial).