My Philosophy of Industry is Henry Ford's 1929 authorized interview with Fay Leone Faurote, expanding on the themes of My Life and Work and Today and Tomorrow. It is a book-by-founder that restates Ford's views on production, wages, competition, and the social role of industry, with the benefit of a decade more experience running the world's largest manufacturing enterprise. It was published as Ford was beginning to lose market share to General Motors, though the book does not dwell on competition.
This is Ford's third and least-known book, but Senra treats it as a useful capstone: by 1929 Ford had been running his company at full scale for over twenty years, and his philosophy had hardened into doctrine. The book is most valuable for its restatement of the cost-reduction-through-volume thesis at a time when GM's strategy of annual model changes and consumer credit was beginning to outperform Ford's single-product approach.
For founders, the most instructive tension in this book is between Ford's genuine production insights (keep prices low, reinvest savings into better manufacturing, treat workers as an investment rather than a cost) and his refusal to update the product strategy that had made him famous. Senra uses this as a warning: the philosophy that got you to the top may not keep you there when the market changes.
Ford's chapter on 'Service' — his claim that industry exists only to serve, and that profit is a byproduct of service well performed — is Senra's most-cited passage from this book. He connects it to modern founder rhetoric about mission and purpose, arguing that Ford actually practiced this logic when it was expensive (the five-dollar day, the price cuts) long before it became fashionable to talk about.