Re:The story of Henry Ford's $5 a day wages: not what you th...
by mjw1007 on Sunday March 15, 2020 @01:41PM
(#22584998)
Right.
I think Worstall is correct that the story only makes sense if the pay decision can be generalised to other companies, otherwise it won't have enough effect on the market.
But there's no good reason to generalise "Ford workers should be able to afford cars" to "company X workers should be able to afford company X products".
Rather it should turn into something like "Factory workers should be able to afford cars".
I think Worstall is correct that the story only makes sense if the pay decision can be generalised to other companies, otherwise it won't have enough effect on the market.
But there's no good reason to generalise "Ford workers should be able to afford cars" to "company X workers should be able to afford company X products".
Rather it should turn into something like "Factory workers should be able to afford cars".