Dear American Companies: Here’s How to Fix the Economy
Filed under: Economy, Ford Motor Co
By Henry Blodget
In 1914, a business executive named Henry Ford did a startling thing: He announced that he was going to more than double the wages he was paying his employees, from $2.34 to $5 a day — the equivalent of $120 a day in today’s money.
The country was as shocked by this then as it would be today.
A powerful company voluntarily sharing some of its profits with its rank-and-file workers and paying them more than it absolutely had to? Had Henry Ford gone mad? Didn’t he understand…
Dear American Companies: Here’s How to Fix the Economy originally appeared on DailyFinance.com on 2012-08-30T15:30:00Z.
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