Henry Ford Paid His Workers $5 a Day So They Wouldn't Quit, Not So They Could Afford Model Ts

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.

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  • Ronin It's one thing to stay tried and true to loyal past customers; you'll ensure a stream of revenue from your installed base- maybe every several years or so.It's another to attract net-new customers, who are dazzled by so many other attractive offerings that have more cargo capacity than that high-floored 4-Runner bed, and are not so scrunched in scrunchy front seats.Like with the FJ Cruiser: don't bother to update it, thereby saving money while explaining customers like it that way, all the way into oblivion. Not recognizing some customers like to actually have right rear visibility in their SUVs.
  • MaintenanceCosts It's not a Benz or a Jag / it's a 5-0 with a rag /And I don't wanna brag / but I could never be stag
  • 3-On-The-Tree Son has a 2016 Mustang GT 5.0 and I have a 2009 C6 Corvette LS3 6spd. And on paper they are pretty close.
  • 3-On-The-Tree Same as the Land Cruiser, emissions. I have a 1985 FJ60 Land Cruiser and it’s a beast off-roading.
  • CanadaCraig I would like for this anniversary special to be a bare-bones Plain-Jane model offered in Dynasty Green and Vintage Burgundy.