When sales are down and overhead costs are skyrocketing, what's the instinct? Cut costs, maybe? Fire some folks? Trim down, get leaner?

Zeynep Ton says that instinct is shortsighted. It's outdated. More than just old, it's a deadly cycle, because cutting costs continues to come at the expense of the foundational unit – the employee. Zeynep is a professor at MIT's Sloan School of Business, and her new book – The Case for Good Jobs – is out next month. By turning almost 40 years of Jack Welch-ian thinking on its head, Zeynep builds the argument that the only way to grow in those crucible moments is to spend more – on the employee.

Shortsightedness will kill us, Zeynep says. Nothing beats a good job.