corporate leaders around the world will follow Jeff's lead!
I will believe it when I see it
The funny thing is that Bezos does not believe they will. He is calling for the law to be changed to
force other companies to follow his
lead. Amazon already pays above par for comparable job.
Democrats would be foolish to praise Bezos. This is part PR stunt. But it's also a very shrewd attack against his competitors. Given the recent negative press Amazon has received, this makes them look like heroes. But the secret behind the curtain is that Bezos knows that most of his competitors won't be able to survive a $15 minimum wage. Amazon can, but many others can't.
The end result would be that many Amazon jobs that currently pay more than the minimum, but not more than $15 an hour, will be instantly transformed into minimum wage jobs. This will help Amazon to reduce employees expectations of higher pay for better jobs. Meanwhile, if the federal minimum wage is raised to match, Bezos now gets away with paying minimum wage while his market share increases when competitors fall off. Eventually, when the economy has adjusted with inflation et al, Amazon has successfully transformed itself to being a predominantly minimum wage labor force, while the broader American economy has more nominal cash, a larger share of which gets spent at Amazon when competitors are sent to the poorhouse.