Amazon is a Rousing US Success Story to be Cheered

100,000 $15.00 Per Hour Jobs

Amazon announced Plans to Hire 100,000 Workers in the US and Canada.

Details 

  • The new positions are for full and part-time work across the U.S. and Canada.
  • 100 new package sorting centers and other facilities will open in September.
  • Starting wage of at least $15 per hour.
  • Sign-on bonuses up to $1,000 to new hires in select cities.
  • Amazon’s latest recruitment drive is in addition to an announcement just days ago when it announced the creation of 33,000 corporate and technology jobs.

“We are opening 100 buildings this month alone across new fulfillment and sortation centers, delivery stations, and other sites,” said Dave Clark, senior vice president of worldwide operations at Amazon.

Amazon Chicago

Amazon Dallas and Austin

Rousing US Success Story

I cheer the success of Amazon, Microsoft, Google, Twitter, and Walmart.

These companies could not exist in France or the EU in general.

France is still worried about the demise of mom and pop bookstores serving practically no one.

And in the EU it is impossible to shed employees once they are hired so corporations do not hire or expand easily.

Socialists Moan

Socialists moan about Amazon. They want to break it up. They also moan about founder Jeff Bezos’ net worth of about $200 billion.

But socialists don’t create jobs. Bezos created over 1,000,000 jobs with another 100,000 on the way.

The Amazon success story is US capitalism at its finest.

Mish

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Advancingtime
Advancingtime
3 years ago

I seriously beg to differ from this view of Amazon. It is difficult to quantify all the damage Amazon has done to America as it has burrowed its way into the fabric of society. Amazon is the destroyer of the stores that provide valuable jobs. Giving people “Free” Prime is a huge part of Amazon’s engulf and devour strategy to weasel its way into our lives.

The article below explores some of the many ways Amazon has exploited communities by continually telling consumers it is the answer to a “better America” while it feeds at the government teat. It also urges people to consider what kind of community and society they want in the coming years before jumping on the Amazon bandwagon. Again I say, Boycott Amazon!

Herkie
Herkie
3 years ago
Reply to  Advancingtime

Those Ma and Pa bricks and morter were simply not competitive. I will admit I do miss going out to actually shop where I can see the items and try things on, ask questions, know the stuff is actually NEW! And the whole shipping of all this stuff is an evironmental catastrophe. I just had to pay a guy with a truck to come haul away all the boxes from several months of ordering on line, the styrofoam, plastic air bladders, sleeves on parts, twist ties in everything, I had to get the waste from ordering out of the garage so I could clean it. And the other thing i miss is being able to just go to a place and buy a completed item, I am sick of getting boxes filled with parts and microscopic badly illustrated instructions on how to assemble. I hate that part, I am just not that good at it and lack the proper tools, and most require more than two hands. I have ruined brand new stuff because instructions were missing and I messed the product up. I am over it. How do people even buy shoes online? You cannot even begin to guess at the fit till you try it on. And furniture? They never look like the photos, and even when that is okay you sit on it and hate it. It is down to pure luck if you get something that satisfies you in every way.

Put me down for mixed feelings on this subject Advancingtime. I like online prices but maybe the higher price is worth it if they assemble and deliver and make it easy to return stuff that did not work out.

Sechel
Sechel
3 years ago

I think we need to watch microsoft on the monopoly front

timbers
timbers
3 years ago

Mish I laughed reading this one because it reminded me of that time Obama did a speech in Kentucky or nearby, at an Amazon facility, and gave a speech telling us Amazon jobs are the new “gateway to middle class America.”

At an average $11/hr often with no benefits.

Obama as a delusional (or not) corporate shill and apologized for his right wing pro corporate agenda then. I know you are not that. But, you almost sound like one he did back then.

Your claim Amazon is a success to be celebrated makes as much sense – but in reverse – as your constant bashing of Venezuela failure because “socialism” (as you conveniently ignore illegal US trade embargoes against being THE AND ONLY REASON FOR IT’S ECONOMIC PROBLEMS and blatant theft of it currency, gold and government property) and illegal attempted military coups, hostility, and regime changes.

Hint: Why not bash Sweden, Norway, Finland, Netherlands for their “socialism”? No illegal US embargoes against those nations which enjoy much higher living standards, longer and happier lives than corporate socialist America.

Because you’d have egg on your face, that’s why.

Amazon owes much of it’s size to criminal lawbreaking against anti trust laws that have not been enforced. Amazon takes in those “ma & pop” stores you seem to not like, rips off their marketing and platforms, but them in the back of the line, and replaces it with their own product even if Amazon simply buys it from ma & pop store. Their are other examples very numerous to list. I will confess to be a bit short on details, because this is not a huge focus of mine. But if you’re interested in more backup, follow Naked Capitalism. They have had various articles on this subject.

Google is even worse. Google (and Facebook) owe their size to being above the law, like anti trust law, more than anything else.

And Facebook I only one question: Why isn’t Mark Zuckerburg in jail? He’s broken so many laws I can’t keep count. Why are these semi monopolies all above the law?

Hint for Amazon shoppers:

Use Amazon for products to buy. Note the market place seller. Then, search out that seller online. Often you can buy directly from them for less. Not always, be sometimes. I use Amazon, but have noticed with slowly increasing frequency overtime that I can get items for less using sellers not linked to Amazon marketplace.

BDR45
BDR45
3 years ago

I am not a socialist, but I am concerned that Amazon has grown very large and railroaded out smaller more artisan businesses. And I congratulate Jeff Bezos for his entrepreneurial spirit, but can’t there be some better balance between mega corporations and mom and pop businesses? Yes, I know small businesses can sell on Amazon, but why does is seem not quite right?

Jojo
Jojo
3 years ago

Yet another negative Amazon story:

Amazon sold items at inflated prices during pandemic according to consumer watchdog
Items sold by Amazon reportedly increased in price by up to 1,000 percent
Sep 11, 2020, 6:23am EDT

GTX
GTX
3 years ago

Pure play Capitalism is when companies are allowed to fail. We are crony capitalism in the sense that we will keep bailing out companies. In Amazons case it was more of changing regulations to suit their needs and stifle the competition.

Stuki
Stuki
3 years ago
Reply to  GTX

As well as vastly sub market interest rates and money printing effectively destroying capital at rates far greater than even Amazon at it’s best could hope to create replacements.

Amazon is amazig (at least by the meager standards of the post 1971, seed-corn-consuming West) but whether it would be sustainable in a free market with $20/oz gold as the currency, is still highly doubtful.

Only one way to find out, though.

Jojo
Jojo
3 years ago

Amazon would be wise to screen their existing and new employees better.

I have a nearly 20 year relationship with Amazon, having started buying from them back in 2002. Over the years I have had occasion to return products that didn’t work, weren’t as advertised, didn’t fit correctly, etc.

This past June, I returned a set of wireless earbuds that I had paid $50 for. They wouldn’t stay in my ears if I moved my head, let alone for the sports I intended to use them for. So I returned them.

Five weeks later, I had not received my refund. I contacted customer service, provided the tracking details, including when the package had been received by Amazon. I was given the refund.

A couple of days later, I received an email from an Amazon “Account Specialist” written in grammatically poor English telling me that the product box was empty and they were pulling the refund until they received the product back. So basically I was being accused of theft! I was also accused of unusual account activity.

I put the product in the box myself and returned it sealed. It was definitely in the box when it reached Amazon, assuming it had not been opened previously.

I went back and forth with the nameless Account Specialist for maybe 4 emails and could not get any definition of exactly what the unusual activities were that I was accused of I was also threatened with account closure for not following Amazon’s policies (again undefined).

I then escalated the complaint to Amazon’s executive complaints department, which usually resolves problems amicably. That didn’t really happen this time around. While I did get the refund reinstated, the 3 different reps in that office that I communicated with all declined to explain what the unusual account activity was or to apologize for accusing me of stealing their stupid $50 product.

The reality is that a large number of people hate working at Amazon. It has a reputation in the warehouses AND in the corporate offices of being a sweatshop. In figures from 2017 (latest apparently available), Amazon warehouses experienced a 100.9% employee turnover! Meanwhile white-collar workers as both employees and management experienced very high rates of attrition.

I wouldn’t be surprised if the Amazon theft loss is far higher than industry standards, as this might be the only way for people to strike back at a company known for beating its workers into the ground.

Be careful who you praise!

Jojo
Jojo
3 years ago

Success depends on what you are counting as successful.

Dozens of Amazon’s own products have been reported as dangerous — melting, exploding or even bursting into flames. Many are still on the market
By Blake Ellis and Melanie Hicken, CNN
Updated 7:55 AM ET, Thu September 10, 2020

Casual_Observer
Casual_Observer
3 years ago

By the way I know people who work at amazon warehouse and say it’s like a sweatshop. They put trackers on your every move. Once Bezos figures out how to replace everyone with machines the job creation wont be the story.

Stuki
Stuki
3 years ago

“Once Bezos figures out how to replace everyone with machines the job creation wont be the story.”

And neither will Amazon.

Is “Bezos,” with all his billions, even able to figure out how to replace some third world kid solving hugely complex problems like answering “What is 2+1” captchas, with “machines?” It doesn’t seem that way, hence seems he still has some ways to go before replacing the rest of Amazon, including himself….

Casual_Observer
Casual_Observer
3 years ago
Reply to  Stuki

Self driving trucks are the start. Amazon is automating faster because they can afford to. Wait til you see. I predict most companies will be able to do more with less employees by 2030.

Stuki
Stuki
3 years ago

Most companies are able to do more with less employees today than yesterday.

How could they not be? By never making use of a single efficiency improving tool nor process?

What’s important to note, is that, while there are improvements, the rate of improvement displays diminishing returns. Hence get slower and slower. Since the lowest hanging fruit always gets picked first. Then the slightly higher ones etc… Each incremental gain getting harder and harder, costlier and costlier, riskier and riskier.

Hence why our computers and phones are a bit faster at some tasks, and our TVs a bit bigger, than back when we were kids. While people a century ago, went from horsedrawn buggies and sailing ships, to freeways, jet liners and TVs, over the course of their lifetimes.

And progress for our kids, will be slower still. And so forth and so forth.

By now, the stuff not yet done, is mostly difficult stuff. The easy gains have already been made. Doesn’t mean gains will stop. Just that they’ll be increasingly slow and/or narrow and specialized.

Casual_Observer
Casual_Observer
3 years ago

I wouldnt have a problem with amazon but their business model is double dealing. Watching what sells well and creating an amazon essentials knockoff to sell their own and move the better products to page 10 of the search. They should be prevented from doing both. Amazon is no success story because they get tax money and dont pay net taxes. Their stock price also is an indirect beneficiary of Fed intervention into bond markets. Mish I thought you were smarter than this.

Stuki
Stuki
3 years ago

“Watching what sells well and creating an amazon essentials knockoff to sell their own and move the better products to page 10 of the search. They should be prevented from doing both. “

Should GM dealers be barred from selling Korean cars better than mid 70s Chevrolets as well? Or barred from asking the Koreans t make features that Chevrolets have better and/or cheaper, if GM is unresponsive?

Creative destruction , with a huge emphasis on the latter, is what makes economies great. Drive the buggymakers out of their comfortable existences, so that their efforts can be repurposed for more productive ends. There should be exactly no restrictions at all, on anyone taking the status quo, and making slight improvements, as that is how the world moves forward.

Amazon, by being closer to customers, have the opportunity to see what customers are looking for, and can respond more efficiently than someone with less knowledge about people’s needs. Hence can sometimes leverage that into serving a need more efficiently. More efficiently is always a good thing. Same/or more output, for less/or same input, is always a gain.

Similarly, there should be nothing preventing someone working at Amazon, from seeing a similar need, and setting up shop next door undercutting his employer-as-of-last-week. Leveraging everything he has learned, whether from Mom, from School or from his employers, in the process. That there still exists such restrictions, is what needs fixing. Adding more of them, is moving in the exact wrong direction.

Casual_Observer
Casual_Observer
3 years ago
Reply to  Stuki

Its apples and oranges. Amazon owns the platform which 3rd party sellers sell along with Amazon knockoffs. Amazon isnt about creative destruction. They arent Tesla. Amazon is exactly what’s wrong with American capitalism. There are many better examples of actual creative destruction. Amazon cant own the platform, enabling them to spy on competitors and then turn around and make the same thing and leave the original seller off the search. That’s just not creative destruction.

Webej
Webej
3 years ago

Much of the economy is run by extractive cartel-like (monopolistic) outfits. They undercut in the short-run (pocketing part of the difference), but in the long-term they hollow everything out.
All the forces line up towards concentration and fragility, not diversification and resilience.

Stuki
Stuki
3 years ago

Once 3rd party sellers no longer benefit from selling on Amazon, they can stop selling on Amazon.

Also, “Amazon” is not some singular entity. The guys, and groups, making stuff, are distinct from those running sales channels. That they all currently sort under the moniker “Amazon,” for some purposes, is pretty much arbitrary happenstance.

“Amazon” is not an economic actor. Only rational individuals are. Such that, what you here have, are guys who have better-than-most access to consumer behavior data, which they believe they can leverage into creating and offering consumers better cost-benefit products than others, taking a punt at it. Not some magic Borg named “Amazon” making decisions. Belief one can do something better than anyone else, on account of having more/better information, is exactly what drives creative destruction, hence economic growth.

The problem with Amazon, as is the problem with everything in our little totalitarian dystopia, is instead that there are too many restrictions on others competing directly with them. By being big enough to know someone in The Welfare Colony on the Hudson which The Fed handed all the resources it stole from all Americans; they have free-of-charge access to massive amounts of money stolen from others, including other potential competitors. Allowing them to continue operating at a economic loss virtually indefinitely, which really does make them hard to compete with.

As well, restrictions making it costlier than otherwise to slap together warehouses, benefit existing BigCos, since those again have better access to the taxfeeders arbitrarily “deeming” and “finding” who should be allowed to slap together what where. Etc., etc.

Those are the problems with the totalitarian, financialized dystopia called “The West.” Not people having too much freedom (obviously so, since noone any longer has any). To, among other tings, use whatever data and sales channels they have access to, to take a punt at offering consumers products with improved cost/benefit performance. Those are good things. Freedom always is. While theft is always the exact opposite.

Webej
Webej
3 years ago

“in the EU it is impossible to shed employees once they are hired”

Absolutely not true. People are fired and laid off everyday.
How difficult it is to get rid of people depends on too many factors to mention, but in many cases there are frameworks beyond the personal whim of a manager/employer, although they often to an end run around these. Reorganizations where you get rid of older employees and hire new ones doing the same work but with different function titles are a common trick.

Stuki
Stuki
3 years ago
Reply to  Webej

And, spending time on “common tricks”, instead of doing your stuff maximally efficient, is economically useful in exactly what way?

In practice, all you do by giving random, but always connected, fiefs arbitrary domain over others’ hiring, is setting up a lobbying infrastructure aimed at determining who gets to be said fief. Wasting resources which less dysfunctional polities (like communist ones……..) instead are in a position to put to service adding value more efficiently.

Webej
Webej
3 years ago
Reply to  Stuki

It requires employers to think through and justify axing employees, often realizing some sort of severance plan (helping ex-employees find training/employment, etc). If the concern is losing money, it is easy to let people go. But there is an incentive to keep people useful and employable. Concern work better when employees are also stakeholders.
Maximum efficiency is generally a matter of many perspectives. Efficient for who? Efficient in what time-frame? Efficient for society or for narrow interests? It is always most efficient to pollute and offload costs to society at large, or to the taxpayer. Should employee training take place at the cost of employers or the tax payer? Should we throw the less useful members of society or those who have outlived their usefulness in a lime pit? That would save us any possible liabilities for unemployment insurance and social security.

Stuki
Stuki
3 years ago
Reply to  Webej

“It requires employers to think through and justify axing employees”

Sort term, possibly. Although even then, what it mostly requires is hiring unproductive nothings to arbitrarily opine over whether they can “get away with it” “legally.” That’s reality, once “The Law” is reduced to nothing more than arbitrary, and always self serving for those equally arbitrarily empowered to “write” it, unlimited, unconstrained, made up drivel. Which is then, since it is not sufficiently limited to be clearly definable, interpreted by some privileged hack on the make, at behest of his ambulance chasing erstwhile frat bros, or perhaps a higher paying lobbyist. Again, entirely arbitrarily.

Long tern, it mainly requires wasting resources, lobbying tax feeding leeches.

“Efficient” for the economic actor making the decision. Not for all manners of mumbo-jumbo, vaguely (if at all) defined pseudo aggregates. None of which are even remotely definable in any language more precise and reliable than Newspeak.

“Employee training”, booger picking, raindancing, warfighting, what have you, should take place at the cost of those who feel like paying for it. That’s nothing more than the definition of freedom. If you want to pay, you pa. If you don’t you don’t. Anything else, is specifically not freedom.

And neither is some arbitrary “we” opining about “throwing” people. Whether someone has “outlived their usefulness” is, again pure mumbo jumbo. Whether A has outlived his, is up to A. Any Government even being aware whether A exists or not, much less opining about his supposed “usefulness”, is engaged in unjustifiable overreach from the outset.

Webej
Webej
3 years ago

Question:
Are those 1100000 jobs in addition to existing jobs or do they replace other jobs?

From what I’ve read, working at Amazon is for desperate people who in other times submitted to slavery (Slavery was often offered as an option: Either take an oath or commit suicide).

Of course for libertarians it’s all voluntary contracting.
Exploitation is theoretically excluded if there are ‘free markets’ …

Casual_Observer
Casual_Observer
3 years ago
Reply to  Webej

Exactly.

Ted R
Ted R
3 years ago
Reply to  Webej

You are correct. A better question is how many of these ‘new jobs’ are really replacements for all the folks that have quit? What is the rate of employee turnover at Amazon right now?

Runner Dan
Runner Dan
3 years ago
Reply to  Webej

“From what I’ve read, working at Amazon is for desperate people who in other times submitted to slavery…”

A generally apt description for the sectors subjected to the world wide marketplace in this country; namely, low wage labor and the technical sector.

Stuki
Stuki
3 years ago
Reply to  Webej

The way to determine whether someone is doing something voluntary or is a de facto slave, is to arm the living heck out of the guy in question; as well as get rid of all and any constraint on him doing something else. A whip ceases to have much coercive power, once the niggas have guns. And/or nukes. And/or alternative options.

Once there is a hard, solid zero preventing anyone who wants to, from setting up a competing warehouse next door, bidding for he same labor pool by doing near exactly what Amazon is doing (including one-click ordering, scraping existing reviews from Amazon’s site…), it will be awfully hard for Amazon to corral any of their armed-to-the-teeth-niggas in their warehouse for “exploitation,” without providing all the wages a free market will bear. Which in a competitive market, is pretty much all of the value-add the nigga in question is willing and able to provide.

As always, “exploitation” only enters the realm, once people are not properly armed, and alternatives/competitors are artificially suppressed; whether via zoning laws, taxation, permits or the rest of the pathologies endemic to all non-free, non-libertarian, hence theft based and totalitarian, states.

Webej
Webej
3 years ago
Reply to  Stuki

Exploitation wears many faces. It was common in ancient times to lay weapons before people (to commit suicide, or a suicidal attempt to fight) when asking them to either keep their honor and commit suicide or to submit and swear an oath of allegiance/submission. Once sworn, all other demands etc., following automatically: After all, it was your own choice. In general, stake holders in society make sure those without a stake do not form a threat. In our time we have perfected many of the cruder mechanisms: the propaganda is now news & entertainment, the circus is at our disposal 24 hrs/day, people are convinced they are “going their own way”, we even give them unemployment money or welfare to make sure there is not too much foment and dissent. Levels of public benefits are calibrated around the level where serious rebellion would otherwise ensue.
The real stake-holders are always those who control the capital and unearned revenue streams, previously the land or cattle (capital=heads), now assets are more diverse.

Stuki
Stuki
3 years ago
Reply to  Webej

“It was common in ancient times to lay weapons before people (to commit suicide, or a suicidal attempt to fight) when asking them to either keep their honor and commit suicide or to submit and swear an oath of allegiance/submission. Once sworn, all other demands etc., following automatically: After all, it was your own choice.”

But only because the weapons were then taken away , before the exploitation began. And that’s the important point.

Enforcement of any no-longer-at-free-will employment “contract,” is slavery from the outset.

Slavery is, definitionally, forced labor. And forced labor, all forced labor, is, just as definitionally, slavery. Remove slavery, and you have removed the ability of anyone to force anyone else to work against their immediate will.

Childish exercises i applied idiotics, of the “but, mommy, look! He signed on the dotted line 20 years ago” kind, has neither standing nor meaning, in any country which is not a slave state.

Ditto government enforced disarmament. Man cannot sign a way a God given right. Even the most devout pacifist, still retais the unlimited right to buy as many surface-to-air missiles as he could possibly stockpile.

Shaolin69
Shaolin69
3 years ago

I’m not a socialist, but a “devout capitalist”. And I bemoan the death of capitalism brought on by the likes of Amazon, who are in league with the government to kill all small businesses and Mom and Pop shops. Create crazy lockdowns to destroy anyone trying to make an independent living, then get cheered by people for hiring 100k wage slaves. Pretty sick IMO.

Solon
Solon
3 years ago
Reply to  Shaolin69

You don’t sound like a devout capitalist.

Were you angry when Rockefeller was able to lower the price of kerosene by 90%, putting whalers out of jobs and giving Americans a night life? How about when Carnegie revolutionized steel-making, again destroying the cost structure of the industry? Ford, when he put all the buggy-makers and livery stables out of work?

Were you angry when the mail order companies went out of business? What about big box retailers?

Or were you happy to take the increased productivity gains in improved living standards for you and yours?

Do you hate saving time and money?

Do you hate that while you are still voting for Mom and Pop Ops with your scarce dollars, billions of other votes are being counted for Amazon’s sellers? Ie. the market at work, the very nature of capitalism.

Or maybe you don’t realize that shopping malls and big box stores and outlet centers have had it in for Mom and Pop Shops for decades now. And maybe you don’t realize that the growth of Amazon and Etsy and Zazzle (etc etc) actually represents a resurgence in Mom and Pop Shops and home businesses.

The impact of Covid, and the government’s response to it on small business is a completely separate issue. Online shopping was coming regardless.

Casual_Observer
Casual_Observer
3 years ago
Reply to  Solon

Such a simpletons view. This isnt simply about online shopping. It’s about unfair competition and violating anti-trust laws that were put in place to not stifle competition.

Solon
Solon
3 years ago

Such a simpletons view

I’m guessing you’re the site expert on simpleton’s views. lol?

Your accusations are the exact same as those made by whalers, buggy-makers, steel-makers, and Sears and other retailers from History.

I would suggest that your echoing of their claims makes your view the overly simplistic one. So provide evidence of this so-called unfair competition rather than echoing the typical assertions of dying business models…

Keep in mind that the consumer had already reined in consumption, travel etc prior to lockdowns. All government has done is change the degree. So essentially every retail business is operating in the same physically restrictive environment that all the others are. They are on the same playing field.

The amazing thing is the Economy had an entrepreneurial avenue to pick up the slack in consumption created by the pandemic. This, historically, doesn’t always occur. It and the entrepreneurs responsible deserve to be lauded when it does.

Shaolin69
Shaolin69
3 years ago
Reply to  Solon

I’m for inefficiency being punished with innovation. But when the government prohibits a shop from being open, it’s no longer “competition”. Amazon deliberately censored books that talked about how the lockdowns were not a good idea… and Bezos also owns the Wash. Post where they pushed for lockdowns everywhere… all to finally get rid of any competition. It’s not just online retail… Walmart is another example of collusion with government to destroy competition.

Stuki
Stuki
3 years ago
Reply to  Shaolin69

“who are in league with the government to kill all small businesses and Mom and Pop shops.”

Then get rid of those who Amazon are in league with to do their mom and pop killing. Solved.

jivefive99
jivefive99
3 years ago

$15 an hour is $30,000 a year, IF you can get 40 hours a week — in a country where even the $50,000 per year average isnt a whole lot. Big deal. Bezos worth $200 billion is a travesty, since he’s gonna spend it on rockets and vacation destinations on Mars, laughing all the way. By the way, Amazon is just a broker, and brokers (who create nothing) get killed by people inevitably replacing them with better systems. There is NOTHING to be happy about here.

Runner Dan
Runner Dan
3 years ago
Reply to  jivefive99

If healthcare, housing, higher education, insurance industry, and those living off our taxes were subjected to the same rigorous marketplace as the Amazon employee, then the $30,000 would be very substantial.

Stuki
Stuki
3 years ago
Reply to  jivefive99

Getting stuff delivered efficiently, presented for sales and comparison and review efficiently, are Very.Good.Things. Compared to not getting things delivered efficiently, and being limited to a poorer selection of product you know less about.

Problem with Amazon, is that it is still not very clear if they could still do their thing efficiently, were it not for the billions upon billions of funds crassly stolen from others by The Fed, by way of “stock appreciation” and artificially low interest rates. It’s not at all inconceivable that they are still ultimately destroying value. In the process robbing other, potentially even more efficient, startups of funds which those would otherwise have had available to make things even better.

But that is the case for everything in totalitarian, financialized dystopias where all spoils are redistributed not based on productive merit, but rather on closeness to The Fed. Even Page and Brin owe far and away most of their nominal wealth to simple, crass theft by The Fed on their behalf. And expending virtually no capital while delivering Pagerank, is a lot more obviously value adding that the spend-massive-to-deliver-massive Amazon has been doing.

But at least Amazon has done something productive. As directly opposed to the orders-of-magnitude greater combined nominal wealth redistributed to idle nothings having “made money of their house”, “their portfolio”, from pure makework on “Wall Street” etc. since 1971. From Warren Buffet on down to some geezer living off a reverse mortgage or “rental income”, those guys have created nothing. Just having had things stolen from others and handed to them. Every penny, being nothing but pure theft.

While wrt Amazon, there is at least the possibility that some/much/most/all of it, would still be sustainable, even in a free market without officially sanctioned theft as its sole and only driving force.

Captain Ahab
Captain Ahab
3 years ago

If bricks and mortar stores sell products required to have physical labels showing country of origin, should we not require the same of virtual stories: it is past time to require the COUNTRY of ORIGIN of products on websites.

pvguy
pvguy
3 years ago
Reply to  Captain Ahab

If you look way down on an amazon listing, they do list the country of origin. I was looking for a wood chipper, and all three were Chinese. Two supposedly different ones were from the same company. Different color, different name, same machine.

Went elsewhere to find an American one.

Stuki
Stuki
3 years ago
Reply to  Captain Ahab

And if “we” requiring federal background checks to buy a peashooter, shouldn’t “we” requires them to buy tennis socks?

Idiocy really is a poor excuse for more of it. And idiocy is all juntas “requiring” is.

Captain Ahab
Captain Ahab
3 years ago
Reply to  Stuki

Federal law currently requires all products sold in the USA (with some exceptions) to bear the country of origin. You can read about on the FTC website.

It remains to be seen whether consumers will make different purchasing decisions if the country of origin is known prior to purchase. However, reasonably intelligent buyers tend to make better decisions with more, rather than less information.

So here is a simple example for STUPI. Why don’t you tell us where the mouse trap is made?

link to amazon.com

Stuki
Stuki
3 years ago
Reply to  Captain Ahab

Federal “law” is currently about a quadrillion pages. At most 2-20 of which would even be contemplated, by anything resembling a limited, hence legitimate, hence civilized, government.

Of course the actual, accurate “country of origin” of anything other than the purest of raw materials, is “lots of them.” Not one.

Hence, as is the case with every.single.pathological.idiocy.dreamt.up.and.mindlessly.cheered.for.by.childbrained.progressive.dupes: All “country of origin” really means, is whatever the idiots’ currently favored Humpty Dumpty chooses to define it to mean, at any give time.

Nothing more. But always an excuse for another army of taxfeeders to “require”, “deem”, “find”, meddle and harass, of course. Since that is the whole point of the exercise, as well as progressivism itself.

el Stevedore
el Stevedore
3 years ago
Reply to  Captain Ahab

not STUPI, but curious if the exercise would prove difficult. not difficult link to trademarks.justia.com

bradw2k
bradw2k
3 years ago

Well said, Mish. Think of the countless hours of human life saved by Amazon’s retail revolution. The people hurt worst by this leap in economic efficiency are 13-year-old girls across the country who wish there was a mall where they could go to look at their phones.

Casual_Observer
Casual_Observer
3 years ago
Reply to  bradw2k

Saved in what way ? Shopping use to be good exercise. From your couch ? Not so much. In fact Amazon contributes to poorer health outcomes.

Runner Dan
Runner Dan
3 years ago

Not really! One can wrap up shopping from home and then go for a run with the time saved!

bradw2k
bradw2k
3 years ago

Time saved going out shopping, duh. Who here likes driving to the mall or parts store?

Online shopping & delivery is bad because it means … less exercise? I’ve seen some dumb things today, but…

Augustthegreat
Augustthegreat
3 years ago

It’s tRump who has been moaning about Amazon and Bezos.

Zardoz
Zardoz
3 years ago

Amazon is a hermit’s dream come true, and the endgame for retail capitalism.

davebarnes2
davebarnes2
3 years ago

Jeff delivers stuff to us almost every day. I think he likes us. I hope we are special enough to get invited to Thanksgiving dinner this year.

bubblelife
bubblelife
3 years ago

I have a few Amazon gripes. Please stop listing products as Amazon Prime and then fail to deliver on time or require shipping payment for returns. At the beginning of the pandemic, Amazon Prime couldn’t deliver on time because they were focusing on essential items yet for months there were no essential items available for sale on their site. No paper towels, no sanitizing sprays/wipes etc.

Casual_Observer
Casual_Observer
3 years ago
Reply to  bubblelife

Yep. They failed me during the pandemic. Walmart saved me.

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