Henry ford made millions of dollars producing and marketing automobiles. Many workers and consumers must have suffered in order

Question

nata0808 [166]

2 years ago

13

Henry ford made millions of dollars producing and marketing automobiles. Many workers and consumers must have suffered in order

for ford to amass such enormous wealth. The person who made this observation

History

1 answer:

Murrr4er [49] · Answer 1 · 2022-07-08T08:33:07+03:00

Answer:

has failed to understand that specialization and exchange generally result in mutual economic gain.

Explanation:

Specialization indeed made a certain individual or organization who initially invented it able to accumulate more wealth compared to the others.

But, their specialization will constantly drop the price of the products down so eventually all people will be able to obtain the products with significantly lower prices compared to what they have to pay in the past. This means that i the specialization and exchange generally resulted in mutual economic gain.