“Henry Ford knew that people needed enough money to actually buy his cars and made it happen with high wages.” This is a pernicious myth that needs to die - Fo

“Henry Ford knew that people needed enough money to actually buy his cars and made it happen with high wages.” This is a pernicious myth that needs to die - Ford increased wages to reduce turnover and thus the costs associated with it - if a few employees on the margins could then afford to buy his cars then all the better, but it would not appreciably increase demand. It doesn’t even make sense logically.