America once had the strongest economy in the world. Shortly after WWII, is when most historians would say America was at its strongest in industry and commerce. Not only were we strong and wealthy, we were trusted. Our brand meant quality and pride. We were proud as a nation and had genuine reason to be. So, can we recover that state of grace as a nation? The prevailing opinion says no.
The corporate world has taken a heavy hit in recent years and it has become an environment of ‘every man for himself’ in the times that followed the mass bailouts. Major economic backlash resulted from the corporate and banking bailouts as Americans posted their protests with their pocketbooks.
Strict government regulations now uphold a series of checks and balances in the corporate world and it’s not so profitable to take risks, especially if you are risking other people’s money. It seems as if the days of Gordon Gekko are long gone from the corporate world. And many are opting out of the rat race resulting in an unprecedented shortage of corporate worker bees.
A new era of more solid financing and sound investment practices has emerged from the smoke and rubble of those questionable practices that brought about the most costly of government intervention into corporations in American history. But is it too little too late? The scenario is that the U.S. Government placed all its bets on corporate America to rejuvenate the ailing economy and the massive debt and lost. As a result, the cautious public is now unwilling to invest their hard earned funds into the once trusted institution of Corporate America. The revelation of massive bonuses for CEOs and VPs did not help.
As Corporate and Industrial America continues to decline, some have hearkened the era of information and technology to be poised to ultimately seal the unfortunate end of the era of the industrial revolution. Collegiate professors have long predicted the next era will be the Age of Information and Technology.
While it is still too early to assess the outcome, history could well cite the mass corporate greed, gross misuse of corporate finances and the government bailout as the precursors of the end of the Age of Corporations and Industrialism as we know it.