Where does that come from though? Is that still the case for the current generation of college graduates? Do the kids need to be educated closer to reality?
The notion of company loyalty is good for a productive workforce - UNTIL the illusion is shattered, which can take parts of the rest of an individuals positive world-view with it.
It should also be noted that this illusion is not specific to any economic system. The soviet union also saw its share of jaded idealists who were gullible to the point of believing that all those promises of owning the means of production had any credibility.
At least in capitalist economies workers are educated with regards to liberal ideas. Thus they are informed that a work relation is just like any business relation, and therefore they are compelled to look after their own best interests without falling for the "company loyalty" emotional trap. Your employer owes you the salary and you should expect nothing more in return, and consequently you as a worker are compelled to always look after more favourable arrangements just like your employer is perpetually doing wrt your job.
Faith in the reciprocation of loyalty with thine employer can be just as misplaced as with your government, whatever shape of ideology it follows (any system is corruptible; gosh-darn humans).
A few years down the line and a few job changes later, I've come to the realization that broadly they are similar in what they do, the way they treat people. It's just different shades of politics, infighting, employee indifference, and perks and benefits. I don't expect anyone from corporate to have my back no matter how good the work is and how much effort I put in.
Maybe it's just my jaded inner self-talking. Christ, I am not that old, only just mid-30s and the way I am writing makes me sound like a grizzly 60 yr old! Now, get off my keyboard!