This is untrue, your confusing capitalism and short sighted greed. Capitalism’s major issue is that very often the ship is being steered by somebody chasing next quarter’s profits and abandoning anything further into the future.
Henry Ford famously paid his workers $5 a day in 1914 primarily to reduce high labor turnover and improve worker productivity. This wage increase was a significant shift from the previous average rate of $2.34, and it was also intended to make the Model T more affordable for his own workers.
Here’s a more detailed look at the reasons behind Ford’s $5-a-day wage:
Reduced Turnover:
Ford had a crippling labor turnover rate of 370%. By offering a higher wage, he aimed to attract and retain workers, minimizing the cost and disruption of constantly hiring and training new employees.
Increased Productivity:
Ford believed that paying workers a higher wage would motivate them to work harder and more efficiently.
Improved Morale:
The higher wage was intended to improve workers’ morale and reduce the distractions caused by financial worries.
Making Cars Affordable:
A key factor was the desire to make the Model T affordable for the workers who were producing it. By making their wages high enough to purchase a car, Ford hoped to stimulate demand and create a larger market for his product.
“Profit-Sharing” and “Fordism”:
Ford initially presented the wage increase as a “profit-sharing” plan, arguing that workers deserved a greater share of the company’s success. This concept became known as “Fordism,” which combined large-scale production with higher wages.
And they chose Henry Ford of all people, the man responsible for the modern assembly line (capitalist alienation at its most extreme) and an actual Nazi.
Fun fact: he also founded two towns to house his workers, but segregated them by whites / non. The towns are still around today, and called Dearborn and Inkster. I’ll let you guess which were for which. 🤢🖕🏽
Imagine not understanding the system you hate isn’t capitalism but cronyism and protectionism in the year of our Lord 2025. The government shouldn’t subsidize business and let megacorps not pay tax while also giving them endless subsidies in return for political favor. If your company can’t compete it should fail.
I think you’re forgetting the part where the Dodge brothers sued Ford for this and the courts ruled in favor of the brothers Dodge. Saying that companies must act in the sole benefit of their shareholders.
Do you have a citation for that? Honest question as I hadn’t heard this before. Until this point I have always heard that corporations have no legal duty to put shareholder profits over all other considerations. Before anyone wonders, I’m not trying to defend capitalism, which I think is indefensible.
This is untrue, your confusing capitalism and short sighted greed. Capitalism’s major issue is that very often the ship is being steered by somebody chasing next quarter’s profits and abandoning anything further into the future.
Henry Ford famously paid his workers $5 a day in 1914 primarily to reduce high labor turnover and improve worker productivity. This wage increase was a significant shift from the previous average rate of $2.34, and it was also intended to make the Model T more affordable for his own workers. Here’s a more detailed look at the reasons behind Ford’s $5-a-day wage: Reduced Turnover: Ford had a crippling labor turnover rate of 370%. By offering a higher wage, he aimed to attract and retain workers, minimizing the cost and disruption of constantly hiring and training new employees. Increased Productivity: Ford believed that paying workers a higher wage would motivate them to work harder and more efficiently. Improved Morale: The higher wage was intended to improve workers’ morale and reduce the distractions caused by financial worries. Making Cars Affordable: A key factor was the desire to make the Model T affordable for the workers who were producing it. By making their wages high enough to purchase a car, Ford hoped to stimulate demand and create a larger market for his product. “Profit-Sharing” and “Fordism”: Ford initially presented the wage increase as a “profit-sharing” plan, arguing that workers deserved a greater share of the company’s success. This concept became known as “Fordism,” which combined large-scale production with higher wages.
The only positive example of capitalism you could find is over 100 years old.
And they chose Henry Ford of all people, the man responsible for the modern assembly line (capitalist alienation at its most extreme) and an actual Nazi.
Fun fact: he also founded two towns to house his workers, but segregated them by whites / non. The towns are still around today, and called Dearborn and Inkster. I’ll let you guess which were for which. 🤢🖕🏽
Imagine defending capitalism in the Year of Our Lord 2025
Imagine not understanding the system you hate isn’t capitalism but cronyism and protectionism in the year of our Lord 2025. The government shouldn’t subsidize business and let megacorps not pay tax while also giving them endless subsidies in return for political favor. If your company can’t compete it should fail.
Breathe
In theory those may be different. In practice they often aren’t. That’s the problem. That’s why it needs rails.
I think you’re forgetting the part where the Dodge brothers sued Ford for this and the courts ruled in favor of the brothers Dodge. Saying that companies must act in the sole benefit of their shareholders.
Do you have a citation for that? Honest question as I hadn’t heard this before. Until this point I have always heard that corporations have no legal duty to put shareholder profits over all other considerations. Before anyone wonders, I’m not trying to defend capitalism, which I think is indefensible.
Lol the citation is literally Dodge v. Ford Motor Co.
Thank you! I was not familiar with this case.
Oh, good thing we only have the Doge idjits then… 😐