With the effective unemployment rate possibly above 16%, the "job-creators" have little incentive to offer robust benefits packages to workers. But a look at U.S. economic history suggests that it's time to revisit the idea that a corporation can remain highly profitable over the long term by providing a floor of economic security for its employees.

Corporate executives stick to a script when pulling the layoff lever: Cite the tough economic landscape, promise that employees will remain the firm's most valued asset, insist that there was no other option to protect the company's future. Here's why you shouldn't buy what corporate America's selling when it comes to life-ruining layoffs.