American business magnate (1863–1947)
Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist and business magnate, founder of the Ford Motor Company, and chief developer of the assembly line technique of mass production. By creating the first automobile that middle-class Americans could afford, he converted the automobile from an expensive curiosity into an accessible utility that profoundly impacted the landscape of the 20th century. Ford was an antisemite who promoted The Protocols of the Meetings of the Learned Elders of Zion in the collection of articles known as The International Jew.
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Through all the years that I have been in business I have never yet found our business bad as a result of any outside force. It has always been due to some defect in our own company, and whenever we located and repaired that defect our business became good again - regardless of what anyone else might be doing. And it will always be found that this country has nationally bad business when business men are drifting, and that business is good when men take hold of their own affairs, put leadership into them, and push forward in spite of obstacles. Only disaster can result when the fundamental principles of business are disregarded and what looks like the easiest way is taken. These fundamentals, as I see them, are:
The provision of a whole new system of electric generation emancipated industry from the leather belt and line shaft, for it eventually became possible to provide each tool with its own electric motor. This may seem only a detail of minor importance. In fact, modern industry could not be carried out with the belt and line shaft for a number of reasons. The motor enabled machinery to be arranged in the order of the work, and that alone has probably doubled the efficiency of industry, for it has cut out a tremendous amount of useless handling and hauling. The belt and line shaft were also tremendously wasteful – so wasteful indeed that no factory could be really large, for even the longest line shaft was small according to modern requirements. Also high speed tools were impossible under the old conditions – neither the pulleys nor the belts could stand modern speeds. Without high speed tools and the finer steels which they brought about, there could be nothing of what we call modern industry.
Money is only a tool in business. It is just a part of the machinery. You might as well borrow 100,000 lathes as $100,000 if the trouble is inside your business. More lathes will not cure it; neither will more money. Only heavier doses of brains and thought and wise courage can cure. A business that misuses what it has will continue to misuse what it can get.
Business will control money instead of money controlling business. The ruinous interest system will be greatly modified. Banking will not be a risk, but a service. Banks will begin to do much more for the people than they do now, and instead of being the most expensive businesses in the world to manage, and the most highly profitable in the matter of dividends, they will become less costly, and the profits of their operation will go to the community which they serve.