> markets don't self-regulate
The linked article is an example of the market self-regulating.
The linked article is an example of the market self-regulating.
This is incorrect. Amazon controls the market, as the indie contractors are created out of Amazon's pockets, and Amazon solely determines the operational practices, business demand and contractual rules.
If you, by "Free Market Self-Regulation", mean "Monopsony Risk-Arbitrage by a Multinational Giant" well, now I'm on board.
Unemployed workers starving to death with their families due to lack of income would also be an example of the market self-regulating.
The market self-regulates, but it often self-regulates to optimize the wrong thing. The people who celebrate that self-regulation usually leave that qualification out, or just deny it completely.
The drivers are evidently employed in some way that makes their market rate that high.
It what way has it self regulated? Amazon could setup a new set of captive small businesses to exploit and nothing will change. It's not like they were actually dependent on these people in any way. It seems like they're running a model that's at least partially about exploiting their vendors' hope and ignorance, and there's a sucker born every minute.
If you start a business with Amazon it's probably a good idea to google other companies experiences.
They're big enough to work around the problem. Take advantage of that a bunch of drivers are suddenly without work, find another company willing to work with them, and soon enough things are back to the way they were at the start.