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My Life and Work
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Editorial Reviews
Product Description
This is Henry Ford's most revealing insights into his philosophy of both business and life. Discover how Henry Ford believed in, used and commanded spiritual and philosophical principles to build his financial empire. --This text refers to the Paperback edition.
Download Description
Unduly high prices are always a sign of unsound business, because they are always due to some abnormal condition. A healthy patient has a normal temperature; a healthy market has normal prices. High prices come about commonly by reason of speculation following the report of a shortage. Although there is never a shortage in everything, a shortage in just a few important commodities, or even in one, serves to start speculation. Or again, goods may not be short at all. An inflation of currency or credit will cause a quick bulge in apparent buying power and the consequent opportunity to speculate. There may be a combination of actual shortages and a currency inflation--as frequently happens during war. But in any condition of unduly high prices, no matter what the real cause, the people pay the high prices because they think there is going to be a shortage.
See all Editorial Reviews
This is Henry Ford's most revealing insights into his philosophy of both business and life. Discover how Henry Ford believed in, used and commanded spiritual and philosophical principles to build his financial empire. --This text refers to the Paperback edition.
Download Description
Unduly high prices are always a sign of unsound business, because they are always due to some abnormal condition. A healthy patient has a normal temperature; a healthy market has normal prices. High prices come about commonly by reason of speculation following the report of a shortage. Although there is never a shortage in everything, a shortage in just a few important commodities, or even in one, serves to start speculation. Or again, goods may not be short at all. An inflation of currency or credit will cause a quick bulge in apparent buying power and the consequent opportunity to speculate. There may be a combination of actual shortages and a currency inflation--as frequently happens during war. But in any condition of unduly high prices, no matter what the real cause, the people pay the high prices because they think there is going to be a shortage.
See all Editorial Reviews
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