Thread: Ronald Reagan
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Old 02-16-2011
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Quote:
Originally Posted by randolph View Post
Henry Ford changed that paradigm. Before the model T, cars could only be afforded by the rich. Ford realized if he paid his workers enough (five dollars a day) they could afford to buy his cars. This set the stage for the development of the American middle class that prospered for many years. We built all the things we wanted, cars, radios, tv sets, whatever. Workers were reasonably well paid. We could buy modest houses and a car to get to work.
Back then the raw material costs were the biggest price factor, if paid your workers generous, the final price didn?t change much. But now the workers are the biggest factor, if you pay them less the final price changes significant. And cheapest workers are not in our countries, or not legal.
What I have no clue about in the newer time are the Stock Exchanges. Without changes in offer and demand or any services the price seems to rise magically.
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