Costco’s controversial new policy says something worrying about the economy

Costco is famously adored by its fans, and its leadership wants the discount big-box chain to remain beloved. Costco co-founder and former CEO James Sinegal so fervently believes in keeping customers happy that he’s driven to profanity to express the strength of his feelings.

“You can’t say ‘People are our most important product,’ and hang signs all over the place that say ‘People are our most important product,’ and then treat them like shit…. Your customers or your suppliers are going to see that you don’t really mean it,” he recently told an interviewer.

Which is why a recent policy change by the retailer is so fascinating.

Starting this month, Costco began enforcing a new benefit for “executive tier” members, who pay $130 annually rather than the $65 for Gold or Businesses membershi