8 years ago

Henry Ford's $5 Day Revolutionizes Wages and Changes History Forever.

Cambridge University Press eBooks
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Gary J. Miller

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In 1914, Henry Ford decided to raise his employees' daily wage to 5,whichwasmuchhigherthanthemarketrateatthetime.Hesetaside5, which was much higher than the market rate at the time. He set aside 5,whichwasmuchhigherthanthemarketrateatthetime.Hesetaside10 million for this new plan, which took effect on January 12 of that year.