861–870 of 1001 posts
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Why would he bother raising wages then? No need for him to raise wages to do that. He isn't doing it for the sake of it. There is some other incentive involved. Automation happens either way and they have been gradually doing it for years without raising wages significantly.
To stop a union from being formed. Unions often institute work rules that contractually forbid automation.
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makes sense right? Amazon goes for the kill with it's mostly automated warehouses, cashierless and automated checkouts to make life hard for a lot of retail and warehouse competitors
Sounds like a monopoly that needs a little breaking up. https://i.imgur.com/IC8Ehgh.jpg
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For a profitable company where wages are a major expense, it seems like lower prices with higher wages can only be achieved with higher productivity. I think an economist would attribute this more to Ford's assembly line? But sure, a high-productivity business can lead the way on wage increases. Other businesses might have to raise prices to keep up. I'd like to read more about Ford's effect on wages outside Detroit.…
>For a profitable company where wages are a major expense, it seems like lower prices with higher wages can only be achieved with higher productivity. Productivity vs hourly pay has pretty famously stagnated since the 1970s[1] after being closely correlated for years before. The issue is simply that people aren't being paid enough for the value they add to companies. [1] https://www.epi.org/productivity-pay-gap/
Bezos felt the Burn! I would still support Bernie's bill. Walmart pays the least of any major retailer. The market power they push onto communities undermines much of the social fabric of America. Small retailers really can't compete with Walmart and a lot of small business owners would feel guilty asking their employees to go on welfare. Charging Walmart for employees who apply to welfare would likely lead to pay in…
An entire national economy raising a minimum wage is pulling yourself into the air by tugging on your bootstraps - futile, and likely to make you keel over instead. There's no alternatives if it fails or has catastrophic effects.
Much like software, businesses work best when there aren't single points of failure - damage is limited when things go wrong. Individual companies can experiment and make decisions that would be dangerous for an entire economy, with nowhere near the same level of risk for anyone except the people at the top.
Jeff Bezos in the announcement. “We’re excited about this change and encourage our competitors and other large employers to join us" Is this an attempt to pressure its competition with less money in the bank to do the same, loby for a higher minimum wage and drive them out of business? Maybe it's a reaction to the union organizing taking place a whole foods and they think this will be cheaper in the long run. I don't…
Even if it is motivated by an attempt to gain competitive advantage, it's still a good thing. If the competition can't find labor at less than $15 an hour, then they'll either go out of business or start offering competitive pay. It's an example of capitalism working both for business and employees.
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Midterms will be here in a month. "Bernicrats" (Left progressive Democrats) have been doing extremely well in recent elections and polling. If you're not afraid as a Republican or a corporation, you haven't been paying attention. https://www.bloomberg.com/news/articles/2018-09-18/internal-... (Internal RNC Poll: Complacent Trump Voters May Cost GOP Control of Congress) http://time.com/5411948/national-voter-registrat…
We have all been paying attention; which is why a dude who never even won an election as a dog catcher is now President of this still great Nation.
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And 100% "Get out of Bernie Sanders' crosshairs before he regulates us to do this"
No democrat is getting any substantive bill through Congress and signed into law until 2020. I don't think they're afraid of Bernie.
https://steemit.com/amazon/@chapekaloco/amazon-com-and-the-m...
tl;dr, my overall compensation has declined slightly as a result of this change but there are a slew of benefits Amazon will reap from this
Well the smart money sees massive inflation ahead. Combine a enormous deficit, a very tight labour market, rising tarrifs, and now large pay rises for workers, and we are in for a time of high inflation.
Nah, amazon is planning on investing in robots.