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During the mid‐to‐late 1980s, a wave of mergers and acquisitions will engulf many firms that are earning respectable profits today. It's inevitable, barring drastic — therefore unlikely — shifts in their corporate life‐styles. In purely economic terms, this won't be cause for lament. It's just the economy's way of flushing out the inefficient and the unnecessary. It probably helps to keep prices down, and makes the nation as a whole more competitive. But in human terms there's plenty to be sad about — even mad about. A lot of promising careers are going to be disrupted, and some of them will be ruined. A lot of families will find themselves suddenly — perhaps permanently — a lot less secure than they thought they were.