Henry Ford Economics
February 8th, 2009
Question: Was Henry Ford Micro or Macro Economics and Why?
What is your reasoning for your opinion? Links to sites that would help me understand this better would be great!! Thanks for any help.
Answer: Henry ford was not an economist. He was a businessman and innovator. He developed the assembly line, which allowed for much cheaper and faster making of automobiles.
He also pioneered the modern way use of labor - hiring the best people, training them and paying them high wages. Which turned out to be more effective than having underpaid but unproductive workers.
So he helped shape the economy of the US, but he did not do much for science of economics.
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