Short Papers On 1 a Capital Levy As a Means of Taxation 2 the Present Unrest
Short Papers On 1 a Capital Levy As a Means of Taxation 2 the Present Unrest
William Worship Paine
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But, his object being to produce a cheap car which would be able to compete on favourable terms with all others, it was absolutely necessary that the factory should be built and equipped, and the business run, in the most efficient way, so as to reduce the cost of pro- duction to the lowest point. That is what we call "organisation, " which is nothing more or less than the product and a very high product of brains. That, then, was the beginning, and I believe that in the first instance Ford pai...d nothing more to his work- people than the then standard rate of wage. Probably the business could not have afforded any more. But mark the sequel. Profits were made ; instead of being spent in mere enjoyment and luxury, they were steadily accumulated and put back into the business, which grew and grew, until, at the present time, it employs thousands of workpeople and turns out, I believe I am right in saying, not less than 1, 500 cars a day. The growth of the business and the accumulation of capital from its profits enabled constant extensions and improvements in the factory, plant and machinery to be made, and the cost of production to be continually decreased, so that the cars could be sold cheaper and cheaper, and yet show a good profit.
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