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To: LearsFool
That certainly wasn't Henry Ford's philosophy. He (and Carnegie) deliberately paid employees high wages---Ford specifically so that they could indeed own their own yachts, or, in Ford's case, their own cars.

It is the basic truth of Say's Law, that supply creates its own demand. Always works.

18 posted on 06/02/2013 7:08:50 AM PDT by LS ('Castles made of sand, fall in the sea . . . eventually.' Hendrix)
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To: LS

Oh, Mr. Ford doesn’t mind if you row your little dinghy to your daily job scrubbing and polishing his yacht. Especially if he paid for his yacht by selling dinghies!

The more dinghies he sells - which are made not by him but by your neighbors, who row them every day to work in his dinghy factory - the bigger yacht he can buy for you to scrub and polish.

But as soon as everybody owns a yacht, who’s going to want to scrub and polish Mr. Ford’s? Or work in his dinghy factory?

Mass production is not a bad thing. But Ford, Morgan, et al used it to destroy the independent livelihood and get us all working in the dinghy factories so they could live off our labor - much the same way the banksters got us in debt so they can live off the interest we pay, and thereby give capitalism a bad name.

(Ever notice how “economic health” indicators are things like housing starts, durable goods purchases, etc? - things that consumers pay interest on.)


40 posted on 06/02/2013 7:55:10 AM PDT by LearsFool ("Thou shouldst not have been old, till thou hadst been wise.")
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