Any academic who apologizes for the tenure system is an idiot. To be tenured in an academic position means to have lifetime employment on good behavior. It's not unlike the tenure of a federal judge. Indeed, the rationale is the same: to promote independent thought. Some people think it's unfair that we academics should not have to face job insecurity. What they don't understand is that there's a quid pro quo. Do you know how much money we earn? We trade money for security. It's a choice nobody has to make, but one that people should have a right to make—and that some of us do make. I made the choice. If you don't like the fact that I have security and you don't, then come to academia. But don't do so expecting to keep the salary or other perks that you have!
I'm grateful for the opportunity to be a professor. I was born to be a professor. It fulfills me as nothing else could. I worked hard for it for a long time, harder than I thought possible. I made sacrifices of every kind, including personal. Everything worked out exactly as I hoped. It is a wonderful life. It's not for everyone, though. Just as I would be miserable (and incompetent) in commerce, many people in commerce would be miserable (and incompetent) in academia. To each his (or her) own. The one thing I ask is that, before you rail against professors with job security or other comforts, you understand the tradeoffs we've made. We've paid for our job security many times over, I assure you.