Tag: $5 a day

By on October 13, 2014

HFM&GV

Over at Bloomberg View, Megan McArdle, in a post titled “Employees Are Not Your Customers” happens to use one of the more enduring myths of automotive history to prove her point. That myth is that Henry Ford started paying his famous $5 a day wage in 1914 so his employees could afford to buy Model Ts. She was using the story as an example to make a specific point so Ms. McArdle doesn’t tell her readers the real reason why Henry started paying a more livable wage. That gives us an excuse to learn some history. (Read More…)

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