Thanks for the link!

Michael Wolraich — Wed, 21 Jun 2017 20:59:54 +0000

In reply to How Amazon Is Changing the

How Amazon Is Changing the

artappraiser — Wed, 21 Jun 2017 06:39:17 +0000

In reply to Return of the Monopoly

How Amazon Is Changing the Whole Concept of Monopoly

By Alex Shephard

@ The New Republic, June 19, 2017

[....] Like other unimaginably gigantic tech companies—most notably Google and Facebook—Amazon has benefitted from decades of a remarkably narrow interpretation of antitrust law. “Amazon has built its business strategy and rhetoric around lowering prices for consumers and serving consumers more generally,” Lina Khan, a fellow with the Open Markets program, told the New Republic. Under the current interpretation of antitrust law—which was deeply influenced by Robert Bork’s 1978 book The Antitrust Paradox—“harm to consumers is the only plausible harm,” Khan said. As long as Amazon keeps prices low—in other words, as long as it refrains from using its monopoly power to extort consumers—it’s safe from scrutiny.

But with its move into physical retail, the necessity for rethinking antitrust law has never been greater. Amazon and other tech quasi-monopolies have benefitted greatly from the relaxing of antitrust laws that began in earnest in 1982. “Walmart was the perfect creature to emerge from the antitrust changes that took place after the Bork revolution,” Lynn said. “But for the digital revolution that took place in the deregulated marketplace, the perfect creature is Amazon. Walmart understands that and they are scared.” [....]

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How Amazon Is Changing the