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An economist explains how Amazon could use its lobbying for a $15 minimum wage as a 'weapon' against other retailers (AMZN)

An economist explains how Amazon could use its lobbying for a $15 minimum wage as a 'weapon' against other retailers (AMZN)
Reuters/Lucas Jackson



Amazon will raise its pay to $15 an hour for all US employees effective November 1.




"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," CEO Jeff Bezos said in a statement. "We're excited about this change and encourage our competitors and other large employers to join us."




He is also directing Amazon's lobbying team to start advocating for a federal increase in the minimum wage to $15 an hour.




Amazon might be hoping to use a higher federal standard as a "weapon" to hurt its competitors, according to economist Michael Farren.



In raising its standard wage to $15 an hour, Amazon has turned an enemy — Sen. Bernie Sanders — into a friend and gained what could be a powerful new weapon.
Amazon's statements about the raises indicate that it wants to position the move as a moral one.
"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," CEO Jeff Bezos said in a statement. "We're excited about this change and encourage our competitors and other large employers to join us."
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