Creative Destruction includes Layoffs

Yaron Brook and Don Watkins have a good take on layoffs.  I particularly liked this point:

Why is this even controversial? Because we have a weird double standard. When an employee leaves a company for greener pastures—maybe higher pay, maybe more satisfying work, maybe a more pleasant commute—nobody complains. Of course he should do what’s best for him.

But when a business does the same thing? When it judges that some jobs are draining profits and need to be cut? Then it’s as if some nefarious sin has been committed.