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Old 12-16-2010, 09:35 PM   #1 (permalink)
snowjeeper
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Default great article on the economy

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."
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