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View Diary: 100 years ago, Henry Ford paid his workers $14.56 an hour (14 comments)

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  •  1914 Economy was more closed .. (2+ / 0-)
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    AlexDrew, gerrilea

    I don't know all the figures, but there were tariffs on a lot of imported and exported goods.  
     The US Economy was much more closed, back then...  Nowadays, you have low tarrifs, NAFTA and the like.   Chomsky even talks about this in one of his speeches.
      It's difficult to say how Ford's idea that his employees were his best customers.. fits today's world.
      This isn't an argument against raising the minimum wage... I see this as more an argument against Free Trade as practiced in NAFTA and WTO agreements, etc.

    "If the Nuremberg laws were applied, every post WWII US President would have been hanged." =Chomsky

    by abenjaminc on Wed Jan 29, 2014 at 03:33:38 PM PST

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