"The restructuring of inefficient companies did create substantial value, but that value did not flow to the now laid-off workers. Some might flow to the remaining workers, but much of it went to the engineers who restructured the companies and the investors they represented."
Thank You Mr. Friedman, for your honest assessment of what's been happening with this country. Like you I grew up in the 1960s. My first jobs were in factories in Los Angeles (yes, LA actually had a manufacturing base!!!!). In those days you started sweeping floors and worked you way up in a company.
While I loather the "Occupy Wall Street" bunch, they are right about one thing. As you state in the above paragraph, the folks doing the work benefit less and less..