The Ford Bubble Pricked
The Labour admirers of Henry Ford used to claim for him that he had solved the problem of working class poverty and discontent by paying “high” wages. The following is taken from the News-Chronicle (April 2nd, 1932) :—
Following the announcement of a general 10 per cent. wage reduction at the Ford motor factory in Cork, several hundred employees went on strike yesterday. They left the works in small bodies until nearly all the staff were out.
The “cut” is the second within a short period, and brings the wages of unskilled men down to £3 a week, compared with the £6 they earned a few years ago.