Henry Ford is inarguably one of the most famous businessmen in America’s history. He famously stated that he “invented the modern age” and in Richard Snow’s new book on Henry Ford, Snow seeks to explore the creative side of Mr. Ford.
Snow’s book, titled I Invented the Modern Age: The Rise of Henry Ford, gives us a portrait of a man who made the burgeoning Ford Motor Company succeed in its day. Snow focuses on Ford’s life and career up until 1927—the end of the Model T era.
One of Ford’s most famous business practices was to start paying his workers $5 for an eight-hour work day—this doubled the usual pay of the time and shortened the work day by an hour. According to Snow and many other historians, Ford did this as a way to reduce turnover—the company had been hiring 300 men to fill 100 positions for a year—and with the wage increase, turnover essentially stopped and workers could afford to buy what they were making.
What do you think of Henry Ford? Have you read Richard Snow’s book? Tell us what you think in the comments below.
Sponsored by Palmetto Ford of Columbia, SC.