The financilisation of multi-national companies - investing in tax havens not real production

I went shopping at Aldi earlier, the German supermarket that offers brand prices way way cheaper than Coles or Woolworths; the two traditional major supermarket chains here in Australia. Those two have been busy chopping wages and casualising staff, whilst still charging top dollar for what they sell. I used to shop at Coles in the same centre all the time, but they keep expanding the self serve electronic aisles to cut back on staff even more. So the customer has to do it all themselves, and pay through the nose for the privilege.

Aldi has turned out much better than I expected. Although there's no express aisle, the registers are extremely well managed. There are no electronic self serve type do it all yourself checkouts, all real live human beings. Their staff are treated well, with breaks and they sit on chairs at the checkout. Well paid too I've read, can be up to $25 an hour for a store worker.

In short, it's obvious the companies that are investing money in tax avoidance and financial airy fairy stuff that produces absolutely nothing. And a company that does otherwise.


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