W. Edwards Deming: That’s Inflation
on Friday, November 25, 2022Meaning of W. Edwards Deming Money Quote: saying worker productivity shouldn’t decline and prices must reflect sufficient profit in pricing to avoid inflation. W. Edwards Deming said:
“Declining productivity and quality means your unit production costs stay high but you don’t have as much to sell. Your workers don’t want to be paid less, so to maintain profits, you increase your prices. That’s inflation” — W. Edwards Deming
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