In 1888, George Eastman marketed the Kodak camera with the memorable advertising promise: “You press the button, we do the rest.” Photography, a complicated task requiring considerable technical knowledge, suddenly became accessible to ordinary consumers.
Eastman created a company that became an early practitioner of welfare capitalism. Eastman issued weekly paychecks and distributed bonuses and profit-sharing payments. In 1919, Eastman gave employees one-third of his personal holdings in Kodak stock, then worth $10 million. The firm later established retirement annuities, life insurance, and disability benefits. Eastman believed that the goodwill and loyalty of employees were important sources of Kodak’s prosperity.
After World War II, major American firms adopted the Kodak model of investing in their employees. In The End of Loyalty, former Wall Street Journal reporter Rick Wartzman describes the 1940s and 1950s as a working-class golden age in which firms such as General Motors, General Electric, Procter & Gamble, and Coca-Cola felt obligated to “lend a helping hand to workers” and to “shield them against the vicissitudes of life.”
Paul Osterman’s important new book, Disposable Workers: The Transformation of Employment, describes how thoroughly that model has eroded.
The Unravelling of The American Employment Compact – Public Discourse https://t.co/0Vs231wbO3
— Allen Mendenhall (@allenmendenhall) September 9, 2026
