Labor Philosophy
The Five-dollar workday
Pioneer of “Welfare Capitalism”.
To improve workers and labor turnover .
He be lived in hiring and keeping best workers .
He was the first to offer $5 per day wage.
This lead to doubling of rate of workers .
Also, he introduced five 8 hrs days work i.e. 40hrs work per week .
Due to high wages his workers could afford the cars produced by themselves .
Ford always said that, ”Without changing the principle we have changed the method of payment”.