Henry Ford’s Technique for a Thriving Economy

A basic economic principal states that paying workers higher wages will boost their standard of living, and increase the number of consumers in the market. Henry Ford adopted this strategy, paying his assembly line workers $5 per hour – a large sum in 1914. Shortly thereafter, Ford employees had enough income to purchase Ford vehicles, boosting sales exponentially.

Unfortunately, businesses and corporations in 2011 have frozen wages and slowed hiring. Profits are being pocketed by executives, rather than spread out among workers. The economy is becoming stagnant, and the only way to boost it is to put dollars back into the wallet of average Americans, rather than showering money on already-rich executives.  How about a revival of Henry Ford’s strategy?

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Julia Krieger

I have extensive experience coordinating communications and outreach initiatives focused on health and social issues. In my current position as Project Specialist, I provide communications technical assistance to regional and federal efforts within the National Partnership for Action initiative, with support from the Office of Minority Health. I am a former Peace Corps volunteer who worked on health and social affairs projects in the Federated States of Micronesia. Read more.

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