Editorial Reviews
Book Description
1922. What is the idea? The beginning; What I learned about business; Starting the real business; Secret of manufacturing and serving; Getting into production; machines and men; Terror of the machine; Wages; Why not always have good business? How cheaply can things by made? Money and goods; Money, master or servant? Why be poor? Tractor and power farming; Why charity? Railroads; Things in general; Democracy and industry; What we may expect.
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Unduly high prices are always a sign of unsound business, because they are always due to some abnormal condition. A healthy patient has a normal temperature; a healthy market has normal prices. High prices come about commonly by reason of speculation following the report of a shortage. Although there is never a shortage in everything, a shortage in just a few important commodities, or even in one, serves to start speculation. Or again, goods may not be short at all. An inflation of currency or credit will cause a quick bulge in apparent buying power and the consequent opportunity to speculate. There may be a combination of actual shortages and a currency inflation--as frequently happens during war. But in any condition of unduly high prices, no matter what the real cause, the people pay the high prices because they think there is going to be a shortage.
--This text refers to the
Digital
edition.
My Life and Work
My Life and Work,Henry Ford,Samuel Crowther,Kessinger Publishing,0766127745,Biography & Autobiography,Biography / Autobiography,Biography/Autobiography,Business,Personal Memoirs,Biography: general,Entrepreneurship
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