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To guest columnist Jeffrey Gardner: I am puzzled by the inaccuracy and misrepresentation of some of the statements in your recent Monitor column. For example, you state that “the good times have been rolling for almost 15 months” in reference to the expert determination regarding the end of the latest recession. I understand that many are still suffering and anxious for significant improvements in our economy, but aside from those poor people and complete dullards, who imagines that saying “things have stopped getting worse” is the same as saying that “things are rapidly getting much better,” which is the connotation I take from your reference to “good times.”
I was pleased to see you refer to Ford as a great example of American industrial productivity, but the tone of your column indicates that you have not absorbed the fundamental insight that Henry Ford recognized - that it was essential that his workers be paid sufficiently well so that they could afford the products they were creating. Appreciation of this fundamental principle of mass production, mass marketing capitalism seems to have gotten lost over the century. Tax policy may be a poor way to correct it, but until capitalists relearn this fundamental point and respond appropriately, they are unlikely to achieve the tax changes that they seek.
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