CofConomics 2: Exit, Voice and Loyalty

When we are dissatisfied with an organization, said economist Albert O. Hirschman, we have three basic options:

1. Exit: We can leave it, either physically, or by mentally and emotionally disengaging,

2. Voice: We can voice our discontent through protest or dialogue, or

3. Loyalty: We may stick with what we have. This might be because our freedom of exit and/or voice is limited (e.g. in an authoritarian state). However, we may stick with it  because we feel that the world would be a worse place without the organization, even if it is broken, and that weakening it would be worse that the current situation.

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