Amazon and Walmart have raked in billions in additional profits during the pandemic, and shared almost none of it with their workers

submitted by Chipit from brookings.edu

all 43 comments
sorted by:
top
newinsightfulfun

[–]One_Jack_Move 8 insightful - 2 fun8 insightful - 1 fun9 insightful - 2 fun -  (19 children)

Monopolies that need to be reigned in or split up.

[–][deleted]  (18 children)

[deleted]

    [–]JasonCarswell 8 insightful - 2 fun8 insightful - 1 fun9 insightful - 2 fun -  (7 children)

    Like Applebees, Arbys, IHOP, KFC, Pizza Hut, Quiznos, Taco Bell, and Hooters are competitors - all owned by PepsiCo.

    They're both part of the monopolistic corporatocracy. From millions of choices we're down to 20 large corporations. Soon enough they'll merge or just keep pretending to offer you a choice, like the (s)elections. Regardless, the ruling class who own and control most of the corporate markets and stocks are the same people. They even sit on each other's boards.

    [–][deleted] 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (2 children)

    I find it funny that all these restaurants are owned by a company that literally sells soft drinks; it seems backwards.

    But, yeah, it's well past time to break up PepsiCo, partially because I want Dr. Pepper at Taco Bell and Pizza Hut, but also because they have too large of a market share, and control more than one part of the supply chain — which makes them not a monopoly, but a monopsony.

    Well, they're technically an oligopsony, but I think I've already said way too many obscure words today.

    [–]JasonCarswell 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

    Sugar water is almost as bad as snake oil.

    Soft drink actual cost: $0.03
    Soft drink price charged: $1.50

    * Guesstimated

    I'd also like to see Dr. Pepper, root beer, creme soda, etc AND their diet counterparts available everywhere. Actually, I'd like to see more diversity like microbrewery kind of things like Jones Sodas (using real sugar cane instead of corn syrup) - as well as natural diet options.

    [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    They could literally sell cans of soda for a Nickle and make a profit. They have to pay overhead, and taxes, but there's no good reason they should mark-up five-thousand percent — they make more than enough profit.

    [–]deleted 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

    That's funny cuz I don't remember there being a single time where I enjoyed any of those restaurant's food.

    [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

    My experience in most of them is very limited or nill.

    [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

    Excellent point, and I'd argue that Amazon and Walmart are monopolies, when one considers the percentages of the demographics they reach and control.

    [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    Agreed.

    Ever wonder how/why Walmart came to prominence over all the other similar stores?

    In the 1980s the TV would have you believe the majority of the cocaine was coming in via Miami Vice, meanwhile in Mena, Arkansas countless banks were springing up to launder money. Not just banks but very select corporations dramatically rose out of Arkansas in that era, under Governor Clinton, soon to be president. Not because of the genius of the corporation's leadership, as they'd have us believe, but because they were corrupt as fuuuuuuuuck.

    [–][deleted] 4 insightful - 4 fun4 insightful - 3 fun5 insightful - 4 fun -  (5 children)

    True, no one has to shop there, and I never would. But people don't need to work there either! Why do they? Why do they watch TV all night, why do they Que up for a vaccination shot? Why do they put $10k on a CC for furniture and trips to Disney land? Double their wages and what have you got? Double the beer sales in that area, double the traffic to Disney land, and double the sales of junk ikea furniture.

    [–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (4 children)

    You do have to shop at Walmart or Amazon to get a lot of things, especially in rural areas for the former. Furthermore, working at Walmart is often the only option for some people, because there are no other low skill jobs available — keep in mind: people have to make money to eat, and they have to eat to not die.

    [–][deleted] 2 insightful - 4 fun2 insightful - 3 fun3 insightful - 4 fun -  (1 child)

    OMG I didn't know that! So What came first, the chicken or the egg, Amazon or food and life on earth?

    [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

    The crazy thing since Amazon started was how much it was a huge money looser in the 2000s yet its stock kept climbing. Investors knew something the rest of us did not.

    [–]JasonCarswell 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (1 child)

    Truth.

    I've avoided Walmart as best I can all my life, but there have been times when it was my last resort. I've been poor for the last dozen years now (initially by circumstance, lately by choice) and I've only avoided Walmart because my local Canadian No Frills store has better prices and is only a couple miles walk away.

    [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    We ain't got a Walmart in my town, so the default option is to buy local, but since I live in a rural area: local stores ain't got that much — and they tend to run out of stuff every time the economy has even a minor downturn.

    [–][deleted] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

    Amazon operates online, white Walmart operates largely offline — but ignoring that, the correct term would be duopoly or oligopoly, with the former referring specifically to two entities.

    [–]Clbull 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

    Oligopolies then. They're still massive companies that screw over their own workers and smaller competition.

    [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    Oligopolies

    GREAT WORD! I need to use it more.

    " An oligopoly (ολιγοπώλιο) (Greek: ὀλίγοι πωλητές "few authorities") is a market form wherein a market or industry is dominated by a small group of large sellers (oligopolists). Oligopolies can result from various forms of collusion that reduce market competition which then typically leads to higher prices for consumers. Oligopolies have their own market structure. "

    ~ https://en.wikipedia.org/wiki/Oligopoly

    /s/Terminology/comments/72xf/oligopoly_a_market_form_wherein_a_market_or/

    [–]ReeferMadness 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    LOL, good one.

    [–]GoysRUs 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (0 children)

    The author of this article thought they were going to share? Lol, that's now how things work.

    [–]IridescentAnaconda 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

    God bless our essential workers: you are modern day heroes.

    [–]soyboy77 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

    Shocker

    [–]AcceleratedWallops 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

    Eat the rich.

    [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

    They taste better basted in their gourmet sauces. Steer clear of some of their caviar - I hear they mix in semen, adrenochrome, and other bodily fluids.

    Can we still call this a Spirit Cooking party if the obscenely wealthy have no souls?

    [–][deleted]  (5 children)

    [deleted]

      [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

      Nonsense. Force a maximum wage on the management, executives, and investors. Then you might see more fairness. (This works in Japan.)

      [–][deleted]  (1 child)

      [deleted]

        [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

        I apologize.

        I completely agree with your initial statement.

        I was drunk the other day and it seems obvious that I misread your intentions.

        I'm all for taxing the rich - without loopholes.

        [–]Chipit[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

        The benefits will be felt disproportionately by the working class.

        [–]iDontShift 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

        have you never heard? if your company is a publically held stock..

        you are required to increase profits for your share holders.

        raising clients wages without proving it will increase profits is against the law.

        we literally enforce greed as an operational imperative.

        [–]Chipit[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

        Again, that kind of thinking hasn't been around for a long time, grandpa. You're sorely out of date.

        [–][deleted] 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (4 children)

        That's not why women don't want to be on the bus with ChipIt lol.

        [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

        ???

        [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (2 children)

        He got mad when I made a joke about Indians so I figure he's Indian.

        [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

        If true, that makes sense of some things.

        East or West or Native?

        [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

        I have no idea, I'm just kinda guessing here.

        [–][deleted]  (8 children)

        [deleted]

          [–]JasonCarswell 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (7 children)

          Bullshit.

          The corporatocracy includes the banks, media, government, city councils, etc. NOTHING is left to chance. This includes the prime real estate where the Walmarts are built, up to the propaganda, and of course the special financing they get - meanwhile competitors, medium, and small businesses get shafted.

          Let's also not forget that the CIA is busy overseas and maintains international business, influence in foreign governments, and makes sure that the crappy goods made by Chinese slaves is shipped on time to your local Walmart, a corporation that came to prominence laundering money from cocaine imported to Mena, Arkansas in the 1980s.

          [–][deleted]  (6 children)

          [deleted]

            [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (5 children)

            There's more to it than that. Amazon used to suffer great losses while getting great investment. That's not accidental. YouTube is "free" and now finally advertises. You can't have that much YouTube storage on vapours. These are long-term projects shaped by more than just markets and propaganda.

            [–][deleted]  (4 children)

            [deleted]

              [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (3 children)

              Semantic spin. Those with wealth can plan and "invest" for the long haul to win the monopoly game. If you think that running in the red for decades is the only scam they're pulling then you're willfully ignorant. Everything said in a boardroom of a privatized corporation is conspiracy to exploit the max. Conspiracies exist. The world runs on them. And they have armies of defensive and offensive lawyers for a reason.

              You have no idea what I'm saying because you can't realize the entire matrix of rigged systems ALWAYS favours the ruling class. The systems aren't broken. They're designed to be unfair. Always have, always will.

              You may call them regulations, but they always have loopholes built in. They write the rules and break them. That's conspiracy and how they grow above others in the same league. It's NOT by honest efficient work.

              [–][deleted]  (2 children)

              [deleted]

                [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

                " The companies that do the best are the ones who supply the greatest value. "

                Generally, sure. That's now how the deep state and monopolies of the corporatocracy roll.

                Society doesn't improve when the ruling class invests in monopolies to dominate the masses. Unless you're a robot, in which case I suppose it is an improvement and you should just obey and follow orders.

                They make systems more complex than necessary on purpose so they can screw you later somehow.

                [–][deleted]  (8 children)

                [deleted]

                  [–]Chipit[S] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (4 children)

                  Yes they do. They get their hours cut or their wages decreased or get laid off.

                  [–][deleted]  (3 children)

                  [deleted]

                    [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (2 children)

                    Depends what you mean by "success". If you mean exploiting their workers then I suppose Amazon doesn't have much more room, but perhaps there's a way they can externalize their expenses and get the tax payers to cover it.

                    Tax payer funded food stamps for their employees should not be a measure of "success".

                    [–][deleted]  (1 child)

                    [deleted]

                      [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

                      It is exploitation if you're underpaying them, especially if they're desperate. The employment markets are also rigged.

                      [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

                      They're already getting exploited.

                      [–][deleted]  (1 child)

                      [deleted]

                        [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

                        I'm anti-extreme capitalist and anti-extreme socialist (communist).

                        I'm against "equality" but I'm all for fairness.

                        There was sooooooooooooooooooo much more to it than just "capitalism" that brought prosperity to the USA.

                        Fuck Chinese exploitation and fuck American prison exploitation.

                        I disagree. I think it's criminal exploitation (especially without benefits) if you work yet can't live (ie. need another job or two).