According to his speech tonight...
We believe that when a CEO pays his autoworkers enough to buy the cars that they build, the whole company does better.
...Obama DOES believe in
the virtuous cycle.
Not only was it a matter of social justice, Ford wrote, but paying high
wages was also smart business. When wages are low, uncertainty dogs the
marketplace and growth is weak. But when pay is high and steady, Ford
asserted, business is more secure because workers earn enough to become
good customers. They can afford to buy Model Ts.
Good.
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