| Show Henry Fords Ford's Lesson Needs to be Learned Re With the automobile indus try rather obviously In mind the tho Presidents President's Council of Economic Eco Advisors has Sugg sted that efficient US U.S. industries consider price reductions this year TUE TIIE IMPLICATION I that policies adopted in that regard will have important national consequences both as to employment employment em- em and inflation Inextricably involved is the question of automation which brought about production eft ef TUAT'S THAT'S NOT a new development develop develop- ment in the car trade henry Ford pioneered it with initiation or of assembly assembly- line Une procedure which has become be be- come the hallmark of the in THERE TIlEnE now seems another spurt in the automation trend which prompts fears or of further fur fur- ther industrial unemployment The principal difference between be be- tween what happened In the Henry Ford era and what's occurring oc oc- now lies in the price factor I illS saving LABORsaving system was translated Into sharp price reductions which opened up new markets That's not developing however how how- ever In the current situation With few exceptions Industrial indus Indus- trial product prices have been maintained or increased WHAT TilE Preside n nt's is Council seems to be saying is that the Henry Ford lesson needs to be relearned |
