The decision that Uber drivers are in fact workers, not entrepreneurs working for themselves, could not have come at a better time.Continue reading
Many people admire companies like Uber or Amazon for the speed with which they build market share and “disrupt” the competition. There is more and more talk about “Uberisation” and when retailers go bust, they are said to have been “Amazoned.”
But we should perhaps stop and think: are we in fact praising nothing else but the return to old-fashioned exploitation? These companies’ main, crucial competitive advantage is cheap labour. OK, technology helps, but if they were to treat people who work for them properly and pay them higher wages, they would not be as rich as they are now.
How do you print money and not cause inflation? Easy. Choose the definition of inflation that suits your needs – the one that includes only those items whose prices are not increasing that fast – and ignore price rises everywhere else. Like, for instance, asset price inflation.