LyrArc Article Gist
The monopolistic behaviour of Amazon is the subject of this report in the WSJ. Bezos originally called his company relentless and even now relentless.com takes you to Amazon site. What he has set up is a mentality of relentless growth by acting like an aggressive startup. WSJ says it has never grown up even though it has acquired business after business often buying or copying smaller companies. It has not matured even though it has over 1 million employees. The problem was low wages and only recently did Amazon increase wages. So that we have this strange and bizarre situation in a developed advanced country like the U.S. where a whole class of academic economists offer Americans low consumer goods costs with manufactured jobs shipped overseas in the name of fighting protectionism, and Amazon as well as automobile and other manufacturers cutting American wages, to create the kind of society we have today split between blue collar and white collar, economically, politically and socially.