Henry Ford-The pioneer of Welfare Capitalism

If you had ever wondered who is responsible for the cars running on the roads, it would be none other than Henry Ford who is one of the best known inventors of recent times. He has more than 160 patents awarded to him. He is responsible for the Model T cars running on almost all the roads of the world. The Model T cars have the steering on their left and it was Henry Ford who introduced this type of cars in the market. He also introduced the present range of cars where the engine and the entire transmission system were enclosed and a suspension system was done with elliptical springs. He was also responsible for automatic car assembly lines often referred to as “fordism”. Fordism resulted in drastic reduction in car prices and also improved quality s all the assembly work was done by automated processes. Ford did not believe in accounts and his company, even after becoming one of the largest in the world went on without having an auditor auditing its accounts. Ford was the pioneer of welfare capitalism and always strived hard for the welfare of the workers of his company. He is indeed a father of modern day transportation!