Jim Stanford Quotes
This relationship is the foundation for the argument, made by some trade unionists and labour advocates, that high wages can actually be "good for business". The precedent set by Henry Ford in 1914, who offered workers $5.00 per day (a very high wage at the time) so they could afford to buy the same cars they made, is often invoked.
Stanford, Jim. Economics for Everyone: A Short Guide to the Economics of Capitalism. Pluto Press, 2008.
Jim Stanford is a Canadian economist and founder of the Progressive Economics Forum. He holds a master's degree in economics from Cambridge University and a doctorate from the New School for Social Research. He is author of a column for the Canadian newspaper The Globe and Mail. In 2016 Stanford relocated to Australia, where he is the founding director of the Centre for the Future of Work, a left wing research organisation funded by the public policy think tank, The Australia Institute. He is also a regular contributor on economics to Huffington Post Australia.