News for hackers. Stuff that matters.
Re:The story of Henry Ford's $5 a day wages: not what you th... by thethethethe on Sunday March 15, 2020 @02:14PM (#22585347)
>It should be obvious that this story doesn't work: Boeing would most certainly be in trouble if they had to pay their workers sufficient to afford a new jetliner.

This is a terrible strawman. One could easily argue that Boeing should pay their employees enough so they could afford plane tickets to fly in Boeing jets. Comparing a commodity product to a commercial product like this article does is narrow and silly.

Re:The story of Henry Ford's $5 a day wages: not what you th... by stale2002 on Sunday March 15, 2020 @04:30PM (#22586478)
No, you are missing the point.

The point is that the amount of money that your workers are making, does not have any significant effect on the demand side of who buys your product.

If your workers make up ~1% of your customers, then them making more money to buy you product, could only really make you around 1% more money.

The argument is just completely nonsensical, that you could spend 100$ increasing a worker's wages, and that is somehow going to get you that 100$ back, because they buy your product.

Instead, you are only going to making back, like 1$ (Because they are less than 1% of your customers). It is an obviously false argument, that becomes apparently if you even do any back of the envelope math at all.

And this is without even taking into account things like revenue vs profit. IE, even if the workers give you back all the money, the materials of the car make up a significant percentage. So, if you pay someone 100$, they give it back to you, you now have to spend 60$ on materials, and you now only have 40$ left.... so you are down 60$.

Re:The story of Henry Ford's $5 a day wages: not what you th... by worik on Sunday March 15, 2020 @05:00PM (#22586717)
This misses the point.

"The point is that the amount of money that your workers are making, does not have any significant effect on the demand side of who buys your product."

This is a class issue. I imagine Henry knew that. Workers must be paid well. All workers. Or the ruling class (Henry's class) will wither and die.

This is a point the current ruling class has forgotten

Re:The story of Henry Ford's $5 a day wages: not what you th... by ncmncm on Sunday March 15, 2020 @05:30PM (#22586945)
No. He had to pay more than other employers to retain employees. Once all workers are paid well, he has to pay better than them. It has nothing to do with any desire to protect his own class.

The line about wanting his employees to buy cars is obvious propaganda, but hard to argue with lacking the truth it was meant to distract us from. The truth was not obvious, but required more facts, which the author supplied. So, now we are equipped to put Ford's line to bed: he had no particular desire for his workers to live well, but did need them to stay on the line.

Re:The story of Henry Ford's $5 a day wages: not what you th... by mcguire on Sunday March 15, 2020 @02:46PM (#22585609)
Well, it is Forbes.
Re:The story of Henry Ford's $5 a day wages: not what you th... by ChrisSD on Sunday March 15, 2020 @03:17PM (#22585869)
To be clear, this is not Forbes. This is forbes.com/sites/ which is an unedited blogging network. So long as a blog brings in clicks and doesn't cause problems for Forbes then they don't much care what is posted.
Re:The story of Henry Ford's $5 a day wages: not what you th... by xyzzyz on Sunday March 15, 2020 @03:40PM (#22586046)
If it's at forbes.com, and has Forbes logo at the top, it's Forbes. If they don't like the brand damage this is creating, tough luck: they can't have their cake and eat it too.
Re:The story of Henry Ford's $5 a day wages: not what you th... by baddox on Sunday March 15, 2020 @03:39PM (#22586040)
It's not unreasonable to expect Forbes' editorial control to extend to everything they host on their domain.
Re:The story of Henry Ford's $5 a day wages: not what you th... by maxerickson on Sunday March 15, 2020 @02:53PM (#22585676)
Forbes, the blog farm that used to be a magazine.
Re:The story of Henry Ford's $5 a day wages: not what you th... by DiabloD3 on Sunday March 15, 2020 @03:01PM (#22585741)
Forbes died the moment Forbes himself died. This was in 1954. Forbes, the magazine, has been going down hill since then, and most of us have only been alive for around half that time.
Re:The story of Henry Ford's $5 a day wages: not what you th... by Tallasatree on Sunday March 15, 2020 @03:53PM (#22586149)
Name checks out.