In the early 1900s, Henry Ford introduced

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Henry Ford introduced a high-wage policy for his workers in order to reduce employee turnover and increase productivity. This policy closely aligns with the predictions of efficiency-wage theory, which suggests that companies who pay above-market wages will attract and retain higher-quality workers who are more productive and committed to their jobs. Thus, the high-wage policy introduced by Henry Ford produced many of the effects predicted by efficiency-wage theory.

In the Early 1900s, Henry Ford Introduced