Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (635960)	11/14/2011 4:51:27 AM
From: GUSTAVE JAEGER	Read Replies (1) of 1582843

Re: But what caused Wallonia's decline? Problably the same socioeconomic factors that spawned America's Rust Belt(), namely: historical reliance on heavy industry (coal mines and metallurgy) combined with a paternalistic capitalism that doesn't reward entrepreneurship and risk-taking by the middle class... Up until 1988, most of Wallonia's --and also Belgium's-- corporations were controlled, directly or indirectly, by the Société Générale de Belgique, a tentacular holding company, a Belgian chaebol* of sorts, that held a monopoly over corporate decisionmaking in every sector... Hence, it made more sense for the graduate scions of the Wallonian bourgeoisie to apply for a job with any of SGB subsidiary than to emulate Steve Jobs and start their own business. Gus *() Rust Belt** From Wikipedia, the free encyclopedia en.wikipedia.org

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