Michael Hiltzik: Corporate America’s failure to spend on jobs is shortsighted – latimes.com

We are not entitled to a lavish lifestyle. But, soulless corporations are on the verge of killing the goose that laid the golden egg.  Read the full story to find out why.

“…there are precious few firms that can survive purely on the patronage of the top 1% of income-earners, or even the top 20%. When no one can afford to buy, no one has customers. Broadly distributing the fruits of economic growth is the only way to sustain that growth.  Ford Motor Co. understood as long ago as 1914, when it raised its daily wage to $5. The companys new living wage all but eliminated absenteeism, built workplace loyalty and helped create a huge new market for automobiles. You want to call Henry Ford a “socialist” for implementing this idea, go right ahead.” via Michael Hiltzik: Corporate Americas failure to spend on jobs is shortsighted – latimes.com.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s