How the 1% got all the money

**boriscleto** · 12-01-2011, 04:58 PM

Daily Kos: It's The Economy Stupid: How the 1% got all the money

jeffkrol · 12-01-2011, 05:58 PM

Originally posted by boriscleto

Daily Kos: It's The Economy Stupid: How the 1% got all the money

Henry Ford once said, “There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.” In today’s world of neoliberal economics and libertarian selfishness, most industrialists (Corporatists) understand why Ford might have encouraged making the best products possible at the lowest cost possible (some obviously only give lip service to “the best”), but why, they might ask, did he include “paying the highest wages possible?” This admonition goes contrary to all economic development over the past thirty years of conservative ascendancy. In fact, it was contrary to the business ethic in vogue in the early 20th century when Ford made his statement. His answer then—and it applies even more strongly now—was that there had to be somebody around to buy his products!

Nesster · 12-01-2011, 06:51 PM

Originally posted by jeffkrol

but why, they might ask, did he include “paying the highest wages possible?

And who says the highest wages possible are a living wage?

jeffkrol · 12-02-2011, 04:33 AM

Originally posted by Nesster

And who says the highest wages possible are a living wage?

I believe it would be self defining in the Ford world............

12-01-2011, 04:58 PM	#1
boriscleto Loyal Site Supporter Join Date: Dec 2009 Location: North Syracuse, NY Photos: Gallery Posts: 16,475	How the 1% got all the money Daily Kos: It's The Economy Stupid: How the 1% got all the money

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12-01-2011, 05:58 PM	#2
jeffkrol Veteran Member Join Date: Sep 2006 Location: Wisconsin USA Photos: Gallery Posts: 8,434	Originally posted by boriscleto Daily Kos: It's The Economy Stupid: How the 1% got all the money Henry Ford once said, “There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.” In today’s world of neoliberal economics and libertarian selfishness, most industrialists (Corporatists) understand why Ford might have encouraged making the best products possible at the lowest cost possible (some obviously only give lip service to “the best”), but why, they might ask, did he include “paying the highest wages possible?” This admonition goes contrary to all economic development over the past thirty years of conservative ascendancy. In fact, it was contrary to the business ethic in vogue in the early 20th century when Ford made his statement. His answer then—and it applies even more strongly now—was that there had to be somebody around to buy his products!

12-01-2011, 06:51 PM	#3
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	Originally posted by jeffkrol but why, they might ask, did he include “paying the highest wages possible? And who says the highest wages possible are a living wage?

12-02-2011, 04:33 AM	#4
jeffkrol Veteran Member Join Date: Sep 2006 Location: Wisconsin USA Photos: Gallery Posts: 8,434	Originally posted by Nesster And who says the highest wages possible are a living wage? I believe it would be self defining in the Ford world............

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