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Quote by Philip Kotler

“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.”

Quote by Philip Kotler

Author

Philip Kotler (born May 27, 1931) is an American marketing author, consultant, and professor emeritus at Northwestern University's Kellogg School of Management. Widely recognized as the "father of modern marketing," he revolutionized the field by transforming marketing from a sales-oriented activity into a strategic management discipline. His seminal textbook "Marketing Management" (first published in 1967) remains a global standard in business education. Kotler's work emphasizes customer value, market segmentation, and brand building. He has authored over 60 books, including "Marketing 3.0" and "Marketing 4.0," and has influenced corporate strategy, social marketing, and city branding. His theories continue to shape marketing practice worldwide. more

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“Too much of the income gains go to too few people, even though all of the stakeholders worked together to make their companies successful. By failing to put enough income into more hands, the GDP grows slower and consumers manage to meet their needs by incurring high levels of debt.”

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“One 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.”

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“The size of the U.S. middle class has been shrinking. Wages have been stagnant. We don't have those factory jobs that paid a living wage and enabled a family to have a home where the wife did not have to work. But we sent our factories abroad and there is no likelihood of getting them back. Equally worrisome is that some managerial jobs and professional jobs (such as lawyers) which support middle class life are threatened by automation.”

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“I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on long term capital gains (tax it at the full tax rate), and institute a progressive tax moving the highest tax rate from 39.6% to 45%. I would favor implementing these three policies in that order, starting with raising the minimum wage, but not stopping there.”

“Robots equipped with software can be designed to do repetitive jobs. All that you need in a factory is a set of dials, an expert, and a dog to keep the expert awake. We will be moving shortly to the next stage to robots with artificial intelligence who can "think."”

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“Every company that manufactures something is causing some damage either to the soil or water or air. Most companies treat these as externalities. But the growing movement of sustainability calls for companies to internalize these costs. Once companies do this, they will have a strong incentive to reduce their carbon footprint.”

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“We should tax every company's carbon footprint and the carbon footprint of every building and home, to incentivize people to reduce their carbon footprint.”

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“There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.”