Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.
Philip KotlerI admire companies that have a purpose, passion, and performance. I am a fan of Unilever under its CEO Paul Polman, not only for the company's insights into women and men when they buy beauty products or skin products (the DOVE woman, the AXE man), but also as a company seeking to achieve both growth and practicing social responsibility.
Philip KotlerIn America, we are not lacking solutions. We are lacking a two-party system that is willing to agree on solutions. Part of this is due to rigid ideological positioning that substitutes for really thinking about the facts and solutions.
Philip KotlerAuthentic marketing is not the art of selling what you make but knowing what to make. It is the art of identifying and understanding customer needs and creating solutions that deliver satisfaction to the customers, profits to the producers and benefits for the stakeholders.
Philip KotlerOne of the major causes of poverty is a lack of family planning. Governments and nonprofit organizations need to encourage poor people to use birth control so that they don't have unexpected babies, which will only make poorer families poorer.
Philip Kotler