“The sudden decision to cut the healthcare benefits for hundreds of part-time employees at Amazon-owned Whole Foods… came just a few weeks after Bezos signed on to a statement that committed to invest in workers.”
This decision is “hypocritical of Bezos,” says Bob Bryan.
Who cares?! These workers are just factors of production that are compensated according to what they are worth — ultimately, to me. From my point of view as a consumer, it is irrelevant what Amazon spends on labor and capital, as long as it delivers the goods.
The less Amazon spends on wages and rents and so on, the more it will be able to pass the savings onto me. So, cut, cut with my blessings.
“The move was roundly criticized online, with commentators pointing out that not only is Amazon one of the most valuable companies in the world, but that Bezos himself is the wealthiest man on Earth.”
And how is that relevant? Is Bezos supposed to donate his own money to workers as if to charity? Do that, and he won’t be the wealthiest man on Earth for long. In any case, his wealth is mostly invested precisely into Amazon and not in the form of a Scrooge McDuck-style money bin full of gold.
Even if there is a money bin, by hoarding cash, Bezos causes a slight voluntary money supply deflation that results in lower prices for me. What’s not to like?