“Low wages are the most costly any employer can pay. It is like using low-grade material—the waste makes it very

expensive in the end. There is no economy in cheap  labor or cheap material.”

—Henry Ford

“A man must always live by his work, and his wages must at least be sufficient to maintain him. They must even upon most occasions be somewhat more; otherwise it would be

impossible for him to bring up a family, and the race of such workmen could not last beyond the first generation.”  

—Adam Smith

 An Inquiry into the Nature and  

Causes of the Wealth of Nations <...

Please subscribe to keep reading.