Special Report: Is America the sick man of the globe? | Reuters
In 1914 Ford Motor Co founder Henry Ford had instituted a daily wage of $5 for workers -- more than doubling their wages -- to reduce turnover and enable workers to afford the cars they made.
In his 1922 book "My Life and Work" Ford, who was staunchly anti-union, dismissed the notion this was an act of charity. "We wanted to pay these wages so that the business would be on a lasting foundation," he wrote. "A low wage business is always insecure."