Henry Ford：My Life and Work, Additional Excerpt 234

Borrowing for expansion is one thing; borrowing to make up for mismanagement and waste is quite another. You do not want money for the latter--for the reason that money cannot do the job. Waste is corrected by economy; mismanagement is corrected by brains. Neither of these correctives has anything to do with money. Indeed, money under certain circumstances is their enemy. And many a business man thanks his stars for the pinch which showed him that his best capital was in his own brains and not in bank loans. Borrowing under certain circumstances is just like a drunkard taking another drink to cure the effect of the last one. It does not do what it is expected to do. It simply increases the difficulty. Tightening up the loose places in a business is much more profitable than any amount of new capital at 7 per cent.

Source： https://www.gutenberg.org/ebooks/7213
Locator：Additional excerpt 234 · Verified：2026-10-19 · Verification：Short excerpt

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