Does the at-will presumption make sense, why or why not?

One of the major justifications for the at-will presumption is its consistency with the parties usual expectations. The idea here is that, since the parties have to express contractually their preference for something other than an at-will relationship, their failure to do so results in a default to the at-will presumption.
Does the at-will presumption make sense, why or why not?
Is the silence indicates preference justification appropriate?
Should a different presumption exist, and if so, what should it be? If not, why not?
Do you agree with the general requirement of additional consideration for employment agreements which include indefinite terms of employment?
What is the normal consideration exchanged in a typical at-will employment situation?
What forms of additional consideration could be offered (provide specific examples)?

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