Syndicated from Common Dreams - Breaking News & Views for the Progressive Community. Read entire article here.
Wall Street analysts tell us that Amazon’s $14 billion buyout of Whole Foods isn’t only a win-win for both of them, but also for consumers, for Amazon intends to lower the organic grocer’s prices.
Really? Yes, they say, because Amazon will use its amazing computer-driven tactics to cut Whole Foods’ cost of selling groceries.
But Amazon’s robotic “efficiency” is achieved by cutting people. It ruthlessly squeezes suppliers, for example, demanding that they give bankruptcy-level wholesale prices to the retail colossus.