Henry Ford：My Life and Work, Additional Excerpt 238

Bankers and lawyers can rarely appreciate this fact. They confuse inertia with stability. It is perfectly beyond their comprehension that the price should ever voluntarily be reduced. That is why putting the usual type of banker or lawyer into the management of a business is courting disaster. Reducing prices increases the volume and disposes of finance, provided one regards the inevitable profit as a trust fund with which to conduct more and better business. Our profit, because of the rapidity of the turnover in the business and the great volume of sales, has, no matter what the price at which the product was sold, always been large. We have had a small profit per article but a large aggregate profit. The profit is not constant. After cutting the prices, the profits for a time run low, but then the inevitable economies begin to get in their work and the profits go high again. But they are not distributed as dividends. I have always insisted on the payment of small dividends and the company has to-day no stockholders who wanted a different policy. I regard business profits above a small percentage as belonging more to the business than to the stockholders.

Source： https://www.gutenberg.org/ebooks/7213
Locator：Additional excerpt 238 · Verified：2026-10-19 · Verification：Short excerpt

公版传记；原文逐字取自 Project Gutenberg，仅摘录段落并附全书链接。

This text is in the public domain. The edition and source link are above. Copyright

← Back to the library