Saturday 20 January 2018

Let's adopt Ford's attitude to 'bean counters'

Henry Ford I and Quadricycle.
Henry Ford I and Quadricycle.

One hundred years ago this month, Henry Ford created the consumer society. He had already started to put humanity on wheels and to perfect assembly-line production but his decision to pay Ford workers $5 per day changed the world of economics forever.

Prior to his revolutionary decision, automotive workers were paid less than $2.50 per day but were still probably the best paid of any industry in the US.

His decision was met with consternation and incredulity in commercial circles; it was thought his impulsive lunacy would destroy industry and the only hope was that he would become bankrupt before the silly idea caught on.

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