Yeah, Ford was horrible, but that’s one thing that’s reasonable about Fordism. He knew that if he payed his employees well enough then they’d have money to spend. I don’t know how the idiots who are wealthy today don’t get that, but they assume their wealth is infinite and comes from nothing.
SoftestSapphic@lemmy.world 2 months ago
Seriously, this is Economics 101 shit and everyone in a position of power just pretends it doesn’t apply for some dumb ass excuse.
The more money people have, the more they will spend.
The more money spent in an economy, the more things are bought, the more opportunities for others to start businesses and make profit present themselves.
The system works better for everyone when money keeps circulating. That’s why UBI is becoming a popular solution to this problem.
The majority of money is stagnant in the US.
It has been siphoned from the working class and is currently kept in the assets of the rich.
And it needs to be redistributed for the system to work well again.
goatmeal@midwest.social 2 months ago
It’s like the prisoners dilemma. We were top left. Some companies thought they could pay less and still reap the benefits of other employers paying well, now everyone does that we’re bottom right