Charles E. Wilson Quotes
Furthermore, there is no good ethical or economic reason for asking workmen and current producers to forego all economic gain in order to increase the purchasing power of all the wealth accumulated in past years.
Wilson, Charles E. Address at the Opening of General Motors Diesel Limited, London, Ontario, August 11, 1950. General Motors Corporation, 1950.
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Martin was explaining the position of Pope John Paul II.
The argument here is that since the poor working class wages are so low, that they cannot save for an emergency, therefore the society must provide for welfare for those who might otherwise starve.
This appears to be the first political use of the phrase. It would take a century for legislation in some states to mandate a living wage. Roosevelt, as a reformer was incredibly ahead of his time.
Charles Edward Wilson was a CEO of General Electric.