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george @ Jan 30th 2007 10:32PM
#8 - part of the reason the industrial revolution was able to take off as it did was because of the over abundance of labor. specialization made skilled workers obsolete and unskilled workers interchangeable. henry ford had no trouble finding workers, regardless of what he paid them. there were enough starving immigrants to fill factories no matter what. the $5/day he paid his workers was superfluous in economic terms, as he could have filled his assembly lines for far less. the true value of paying his workers a relatively high wage was in the publicity FoMoCo received for doing so. while it's true that his management practices left a lot to be desired, ford's practice of higher pay raised wages for workers in all industries.