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> The CEO of Walmart even advised the feds that they should raise the minimum wage. High minimum wages favor larger entities than can leverage economies of sc
by blix 7y ago
> The CEO of Walmart even advised the feds that they should raise the minimum wage.
High minimum wages favor larger entities than can leverage economies of scale. Amazon has expressed similar support. I don't think this is entirely altruistic.
- jcims 7y agoIt's not altruistic at all. In ten years Amazon (and likely WalMart) will be out of that labor market entirely and their competition will be left with the baggage.
- blix 7y agoAssuming their competition will be left.
- kuzimoto 7y agoYep, larger companies are probably way better equipped to deal with raising the minimum wage. This will just hurt small/medium business.
- asdff 7y agoIt will hurt small/medium businesses that can't afford to not exploit their workers. If your business plan is reliant on having an artificially high staff due to exploiting an artificially low wage, then you don't have much of a business plan at all. "But what of all the poor businesses engaged in a race to the bottom to maximize personal profit?" Let's not think of the parasites here.
- blix 7y agoIt's not like Amazon/Walmart don't exploit workers, they just do it farther away. And are you really claiming they are not engaged in a race to the bottom? McDonalds is going to be better positioned to invest in automated ordering kiosks than any independent diner... is this because they are a beacon of chivalrous capitalism, or because they have been much better at exploitation? This is the weirdest defense of oligopoly. I've never understood it.
- Pigo 7y agoWell everyone just wants to buy from three companies anyways, right? Just like everyone only wants to visit 3 websites? And everyone really only wants 1 ISP to choose from. /s