Bull City wrote:Beau, you were being honest and frank. I respect that. Underlying my view of Amazon, is the fact that in a lot of the "professional" jobs today, people are expected to be on call 24/7. Between email, cell phones and other devices, bosses have the ability to do this. I don't think it's a good thing, but perhaps in a global economy we have no choice.
I couldn't agree more - that many folks abuse others with overwork. No doubt about it.
In my view this is but one aspect of the domination of capital vs labor in the age old battle. Labor has to put up with it because so much of the monetary power has accrued to capital. Right now, in the software segment of technology, the roles are reversed. We have a serious shortage of labor skilled in what we need. That means that over the last 10 years the average salary of a software engineer in our sector has gone from about $60k to well over $100k. In other segments of the economy, where there the supply/demand curve has trended the other way, real-wage labor has seen their earnings plummet.
Many folks don't want to accept that many of our national policies have been very very very good for capital and middling to bad for labor of most types, but the worst for unskilled labor or labor that is loosing out to automation. At Amazon, to return to the specific, we have both types. They are paying well over $100k per year for programmers and paying extremely low wages for warehouse workers. These long term policy shifts in our government are the real cause of the 1% wealth concentration that folks complain about. It has been designed into our tax codes and the very structure of our commercial activity, many times as an unintended consequence of some benighted policy that is supposed to create jobs for labor.
A few simple examples:
- The profit I make on investments of capital are taxed at a much lower rate than the profit I make on my labor. Why?
- I get a subsidy for borrowing up to $1,100,000 to buy a house in the form of an income tax deduction, but someone who rents see nothing of the kind.
- Despite massive rhetoric and complaints (not from businesses) we have never "secured our borders" to reduce the supply of labor.
- Most states in the US provide subsidies to get businesses to move there, claiming job growth. But a Harvard study has pointed out that the actual resulting job growth that has accrued from those subsidies can be measured as about 1 job for every $300,000 per year in subsidies. Obviously, it would be far easier to just give labor the money.
My point is that we businesses, and you're hearing this from a lifetime CEO and investor, have managed to carefully construct a myth that many things create jobs and help labor which do not actually do anything of the kind. But our Congress, and to an even greater degree our state legislatures, are easily manipulated and have been manipulated for decades at the hands of those with capital.
This is hardly new. The founding fathers of our country only allowed white male land owners to vote. At that time, land ownership was the chosen asset owned by capital. On the other hand slavery and indentured servitude (no to mention happily accepting convicts from Europe) were used to swamp the marketplace with labor and cut its negotiating power.
Ok, I'll shut up once I say that every time you look at regulations and laws that limit the supply of labor or support the deployment of capital profitably you're seeing the root cause of the abuses at the low end of Amazon's employee base. Every time a State has won a new factory or job growth has been "encouraged" by a lower tax on capital you're seeing the root cause of the problem.