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This is, in my opinion, the perfect example of where regulation should be applied though. If a business is playing by the rules and we as society aren't okay wi
by gameman144 5y ago
This is, in my opinion, the perfect example of where regulation should be applied though. If a business is playing by the rules and we as society aren't okay with the results, then those rules should be changed for all businesses, e.g. minimum wage raises.
The roadblocks to these laws is that they don't come for free, and loads of businesses would either no longer be viable or would be able to hire less. This is one of the ways that Amazon is building out its moat to prevent challengers (note that Amazon has had a $15 minimum wage for years). Of course there's a happy equilibrium somewhere in there, but this is not the role of Jeff Bezos (or my hypothetical sandwich shop) to figure out.
I expect my government to determine the rules of how society can function, and I expect businesses to be as efficient as possible within the bounds of those rules.
As an aside, though, none of this has to do with the concept of someone being forced to give up their own company. If a company needs to act a certain way, then the law should force the company to act that way for sure. If a company was following the law, though, the backlash for crappy outcomes falls firmly at the feet of that law.