News for hackers. Stuff that matters.

A comment on Alibaba to invest $15.5B for “common prosperity”. Parent comment

Re:Alibaba to invest $15.5B for “common prosperity” by throwaway4good on Thursday September 02, 2021 @12:29PM (#28394087)
There is similar thinking in "classical" American capatalism from Henry Ford's idea that his factory workers needed to make enough money to buy the cars they produced to all sort of concrete projects for the broader society.

This is a story about housing built by the Ford motor company:

https://askus.thehenryford.org/faq/169797

I am sure there are many other examples.

[ Parent | on HN ]
Re:Alibaba to invest $15.5B for “common prosperity” by 238475235243 on Thursday September 02, 2021 @12:31PM (#28394111)
If you read a biography of Ford you'll find this story just isn't really true. He couldn't find workers and had to raise the wages, and in doing got a lot of PR by spinning it as being good for workers to buy cars.
[ Parent | on HN ]