08/10/2018

No, Annie Lowrey, Taxpayers Didn’t Give Bezos His Wealth

John Tamny, RealClearPolitics

In September of 2017, the New York Times reported that Amazon “employed 300,000 people globally by its 20th year as a public company, the fastest any American company has reached that mark.”  This stat came to mind while contemplating Annie Lowrey’s recent effort to cast Jeff Bezos’s immense wealth in a negative light.  While she takes care to acknowledge some of Bezos’s herculean achievements, Lowrey contends that Bezos didn’t build an amazing corporation staffed by the wildly talented as much as policy failure, taxpayer generosity and worker exploitation combined to make Amazon great.  

If Lowrey is to be believed, Amazon corralled its workforce through intimidation, near-indentured servitude, and poverty-inducing thrift, only to leave the bill for employees who endure pay that is below the U.S.’s “living wage” to taxpayers in the form of “policies like the Earned Income Tax Credit, Medicaid, and the Supplemental Nutrition Assistance Program.” Bezos’s supposed parsimony is the driver of Amazon’s sweatshop-style conditions for workers who, according to Lowrey, suffer a pay gap relative to Amazon executives that is “shocking.” Apparently Amazon’s employees aren’t as shocked.  As of this writing, there’s no evidence that those in the company’s employ are trailed by the gun-toting on the way in to work each day.   

Considering the excitement within North American cities when Amazon announced plans to create a 2nd headquarters, city mayors and councils are similarly not taken aback. They see winning HQ2 and all the opportunity it represents for their job-hungry constituents as the path to electoral permanence.  The clamor for HQ2 is a reminder that the immense gap between the “richest” and their allegedly exploited employees obscures how well those at the wrong end of the curve are compensated in a relative sense.  Lowrey knows rather well how privileged are those who get to work for the superrich as her employment at The Atlantic attests.  Maybe she forgot.  Needless to say, much of the rest of the world’s population (and just about every journalist) would give anything to work for Amazon or her employer.  Life is a quite a bit more certain when your boss is a billionaire. 

Read full article



You May Also Like:

The Evidence Is Clear: America Is Back Mike Pence, Des Moine Register

Trump Revokes Ex-CIA Dir. John Brennan’s Security Clearance Benny Johnson, Daily Caller

Ellison Is Done: 911 Report Confirms Assault Details And We’ve Got The Report Jared Harris, Conservative Tribune

Russian Collusion: It Was Hillary Clinton All Along Investor’s Business Daily

Democrats Are Out To Sabotage The Middle Class On Health Care Betsy McCaughey, New York Post

This Cake Baker Won At The Supreme Court. Now The State Is Trying To Get Revenge Bre Payton, The Federalist

Majority of Democrats Like Socialism More Than Capitalism Frank Newpor, Gallup

An Easy Way To Lower The Trade Deficit Stephen Moore, American Spectator

Bernie Sanders Calls America ‘Fundamentally Immoral’ [Watch] Amber Athey, Daily Caller

Welcome To Tariff Town, USA Andrew Egger, Weekly Standard

Enough's Enough Walter Williams, Townhall

The Link Between Economic Liberty And National Prosperity Daniel J. Mitchell, International Liberty

Amish Uber Shows That Entrepreneurship Is Contagious Brittany Hunter, Foundation for Economic Education

Before Public Roads, Private Companies Did It Better Joe Jarvis, Daily Bell

MA Mayor Boycotting Sam Adams Beer Because CEO Thanked Trump For Tax Cuts Mike LaChance, Legal Insurrection

For More go to the Home Page >>>

Join Our Email List



section

Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

section

In Search Of History

4,000 Years Of Price Control

Tablets, said to be 200 years older than the Babylonian Code of Hammurabi ... show that the ancient kingdom of Eshnunna had wage control and price control. The news ought not to have come as a surprise. For the code of Hammurabi itself (unearthed in 1902), which was promulgated earlier than 2000 B.C., fixed prices, wages, interest rates, and fees. This makes price control at least about 4,000 years old. ...

 

Ironically, it is those who now wish to return to this ancient totalitarian device who are fondest of calling themselves “progressives.” They are also fond of saying that those who believe in economic liberty “are living in the nineteenth century.” These controlists have yet to learn that they themselves are still living, as the discoveries in Babylonia attest, in the nineteenth century—B.C.!

-- Henry Hazlitt,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.05%
    FreeMarket Central Shadow Stats: 21.5%
  • Inflation:
    FreeMarket Central July Year-to-Year: 2.87% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

section