A large part of the reason the economy boomed in the 50’s was due to stakeholder capitalism —business does best when all the stakeholders do well. An early version of this was Henry Ford paying his workers more than other car manufacturers so they could afford to purchase his cars.
Milton Friedman said in the mid-60’s that stakeholder cap…
A large part of the reason the economy boomed in the 50’s was due to stakeholder capitalism —business does best when all the stakeholders do well. An early version of this was Henry Ford paying his workers more than other car manufacturers so they could afford to purchase his cars.
Milton Friedman said in the mid-60’s that stakeholder capitalism was wrong. Business does best when the owners(shareholders) do best so they have the money to re-invest in their businesses (shareholder capitalism). After watching the decimation of the working class and stock buybacks, Friedman admitted at the end of his life he hadn’t foreseen his theory’s unintended consequences and effects on the US. Huh? After The Gilded Age?
Except, don't conflate the robber barons' agenda. Saying he magnanimously paid his workers more so they could buy his cars gaslights his real agenda - selling more cars and making more money, but not actually supporting workers. They are faceless here. Pardon the pun, they were just the vehicle for his greed. Arbeit macht frei.
A large part of the reason the economy boomed in the 50’s was due to stakeholder capitalism —business does best when all the stakeholders do well. An early version of this was Henry Ford paying his workers more than other car manufacturers so they could afford to purchase his cars.
Milton Friedman said in the mid-60’s that stakeholder capitalism was wrong. Business does best when the owners(shareholders) do best so they have the money to re-invest in their businesses (shareholder capitalism). After watching the decimation of the working class and stock buybacks, Friedman admitted at the end of his life he hadn’t foreseen his theory’s unintended consequences and effects on the US. Huh? After The Gilded Age?
Except, don't conflate the robber barons' agenda. Saying he magnanimously paid his workers more so they could buy his cars gaslights his real agenda - selling more cars and making more money, but not actually supporting workers. They are faceless here. Pardon the pun, they were just the vehicle for his greed. Arbeit macht frei.