Liberals don’t seem to understand you can’t “just raise your prices” to pay for higher wages, and it’s clearly liberals who run Amazon, so they can make their own bed and lie in it.
Amazon to competitors: We’ve decided to overpay for labor; how about you do the same?
In rationally functioning markets, your competitors laugh at you and eat you for lunch when you do something like this. Unnecessarily inflating your costs is an invitation to smarter companies to undercut you on price, and that spells pilfered market share.
In the modern tech world, I’m not sure the players are smart enough to put all that together. Still, by any rational definition of how markets work, what Amazon has done here is one of the dumbest gambits ever seen in business.
