ponderingturtle
Orthogonal Vector
- Joined
- Jul 11, 2006
- Messages
- 54,545
It will become cheaper and cheaper to provide the bare necessities for everyone. And enlightened self-interest of the wealthy will cause them to pay for this basic level of comfort.
But it is important to have people who fail to produce be punished. By that logic there would be no hunger in the US, we can certainly afford to feed everyone and have plenty of food. But if you make it to easy on the destitute the poor will realize they are also being screwed.
Beyond that, any company needs consumers, so they have to find ways to employ and pay people who can then afford their products: even Ford knew as much.
Not really Ford knew he had large problems with labor turnover and that raising wages would reduce it. The economic argument was a post hoc rationalization for basic business decisions.