Wednesday, February 4, 2009

Two Conclusions on Amazon Mechanical Turk

Amazon Mechanical Turk:

I) The Amazon Mechanical Turk is related to traditional work and part-time jobs, just like micro finance is related to private equity and venture capital. The time commitment, value of the projects, and returns on the project are lower, however on the whole, it will make things more efficient. In the past, there was no market for these sort of internet odd jobs (e.g., a website needs content, so it offers $0.40 for someone to write a Top 10 list); now there is.

II) This site is of little (no) value in a liberal western country (i.e., a country where there is minimum wage, amply opportunities for part time jobs). Most of the jobs are under a dollar in value. The highest paying job (as of now) is $5 (but I have seen as high as ~$7). However, the US minimum wage is $6.55.

An American would have to be very efficient in order to make more than $6.55 in an hour using the Amazon Mechanical Turk (and most likely, the most efficient Americans have proper jobs).

However, the opportunities for the Third World to do this work is very promising; although it is limited by their access to the internet and their use for's currency.

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