Comments on: When All Else Fails, Re-Invent The Economics http://www.boom2bust.com/2008/07/23/when-all-else-fails-re-invent-the-economics/ "The Most Hated Blog On Wall Street" Fri, 05 Dec 2008 02:14:10 +0000 http://wordpress.org/?v=2.6.2 By: Editor http://www.boom2bust.com/2008/07/23/when-all-else-fails-re-invent-the-economics/#comment-2374 Editor Fri, 25 Jul 2008 14:24:14 +0000 http://www.boom2bust.com/?p=961#comment-2374 Thanks for the comment Leigh. Once again, I'm going to have to quote good ol' Henry Ford here. The famous industrialist once said: <blockquote>There is one rule for industrialists and that is: make the best quality of goods possible at the lowest cost possible, <strong>paying the highest wages possible</strong>. </blockquote> Seems the self-styled "industrialists" of the 21st century have conveniently forgotten this last part of the lesson... Thanks for the comment Leigh. Once again, I’m going to have to quote good ol’ Henry Ford here. The famous industrialist once said:

There is one rule for industrialists and that is: make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.

Seems the self-styled “industrialists” of the 21st century have conveniently forgotten this last part of the lesson…

]]> By: Leigh http://www.boom2bust.com/2008/07/23/when-all-else-fails-re-invent-the-economics/#comment-2365 Leigh Thu, 24 Jul 2008 21:13:13 +0000 http://www.boom2bust.com/?p=961#comment-2365 How about the argument for illegal aliens. Instead of paying American citizens more for those dirty jobs nobody wants to do at those prices, they import workers and pay them less, abusing them because of their vulnerability. Or instead of paying the more experienced 50 year old more, there are lay-offs and then 30 year olds are imported from a Third World country that work for much less, because they are having trouble filling all those jobs (i.e. at least at the wage they want to pay). The Big Boss man gets a humongous bonus for saving that bottom line. Main steet guys get a pink slip along with sorry prospects for any future job. Hard to compete with that Third World crowd. Oh, and gotta speak Spanish, too. This is the "Bizarro World" main street lives every day. That is the economic lesson we have lived since I came of age. Supply and demand? Pish Posh! How about the argument for illegal aliens. Instead of paying American citizens more for those dirty jobs nobody wants to do at those prices, they import workers and pay them less, abusing them because of their vulnerability. Or instead of paying the more experienced 50 year old more, there are lay-offs and then 30 year olds are imported from a Third World country that work for much less, because they are having trouble filling all those jobs (i.e. at least at the wage they want to pay). The Big Boss man gets a humongous bonus for saving that bottom line. Main steet guys get a pink slip along with sorry prospects for any future job. Hard to compete with that Third World crowd. Oh, and gotta speak Spanish, too. This is the “Bizarro World” main street lives every day. That is the economic lesson we have lived since I came of age. Supply and demand? Pish Posh!

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