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The same story plays out -- workers cashiered, pay cut, quality diminished, wealth extracted, and lives ruined, as Bain pushed down on the throttle.
Profit disappointments will cause equities to fall; feelings of diminished wealth will slow consumer spending, which will scuttle economic growth.
But their delayed or diminished wealth accumulation might still have a lasting impact on their finances.
It was perhaps inevitable that he would be cut down a notch during a period when CNBC is charting the nation's diminished wealth minute by minute and President Bush is warning of trouble ahead -- especially since Mr. Greenspan's reputation as the infallible ringmaster of the economy was no doubt overblown when times were good.
She calculates that for over-55s, median wealth fell from 5.7 times income in 2007 to 4.6 in 2008, returning to the level of 1995.But while diminished wealth may keep more of the elderly in the office, it merely enhances an underlying trend towards later retirement.
It must be remembered, Green argues, "that the increased wealth of one man does not naturally mean the diminished wealth of another" (LPPO 226); and capitalism benefits everyone in the long-run.
Similar(53)
But, critically, this explosion didn't diminish wealth concentrations in the slightest.
But by mid-2009, despite rising joblessness and diminishing wealth, people's subjective assessment of how well their lives were going was not just broadly stable but at levels well above those recorded during the depths of the crisis, and higher even than they were in January 2008.
"When we study what diminishes wealth, down markets and manager selection are not key figures," says Kaplan.
And many types of environmental damage have diminished as wealth has grown.
With the economic collapse and the prospect of years of high unemployment and diminished personal wealth and personal consumption, failure really doesn't seem to be a viable option anymore.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com