4 ms·
The bottom line is that the labor market for unskilled workers is not competitive, keeping rates low, to the extreme benefit of Bezos (in this case). Mandating
by eagsalazar2 6y ago
The bottom line is that the labor market for unskilled workers is not competitive, keeping rates low, to the extreme benefit of Bezos (in this case). Mandating higher wages will result in extreme distortions. I'm not saying we shouldn't do that, as fixing the underlying labor supply problem is messy as hell, I'm just saying culling executive pay is probably just very distorting and probably won't solve the problem anyway. Why would they just give those $$ to employees? It has never been about "we can't pay you because we don't have any money left after paying execs". They would just save more in the bank that they can use to abuse smaller competitors even more. The root issue is for Amazon and many other businesses, the cost of doing business is way too low.