The members of any collective—whether citizens of a country or em ployees of a company—have essentially two possible responses when they perceive that the collective is stagnating or declining in quality. They can "voice" their concerns in the hope that the leadership will adapt and change. Or, depending upon their options, they can "exit." That was the key analytical insight of the influential treatise Exit, Voice, and Loyalty, published in 1970 by economist Albert O. Hirschman. The willingness of members to voice or exit is influenced by how much loyalty they have to the collective. If there is a large reservoir of goodwill, the leadership has more latitude to learn from its mistakes, enabling voice to play its proper role.
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