>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.
> The linked article is an example of the market self-regulating.
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.
> In this case it self regulated because the market rate for drivers was too 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.
But the small business cannot hire, so even if they do find a couple more suckers, it won't matter as they will immediately be losing money on a per unit of delivery basis.
Small businesses being forced to decide between shutting down and operating unsafely with some minimal hope of profitability is indeed a perfect and inspiring example of how "markets self-regulate."
That's how all businesses operate. If you can't make it, you shut down. If you open unprofitable barber shop you will have to shut down too. But I guess it's hard to be upset at people for not wanting your hair cut.
If you start a business with Amazon it's probably a good idea to google other companies experiences.
I would like this to work, but I think Amazon won't really care.
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.
The linked article is an example of the market self-regulating.