Robert Reich Amazon says more than 10 million people tried the online retailing giants Prime subscription service for the first time this holiday. Total holiday sales in the U.S. made from the Amazon app doubled from last year. All told, online shopping rose 16 percent this holiday season. At this rate, big-box retailers will be gone in 25 years, most mom-and-pop retailers will be gone in 15, and Amazon will have more power over what we buy and sell than any company in the world. . This is worrying because . (1) concentrated economic power anywhere in the economy drains money away from smaller producers and from consumers, . (2) concentrated economic power also leads to concentrated political power, and . (3) retail jobs have been the source of most job growth since 2009, and at this rate won’t be there in the future. . What’s your view: Is Amazon’s increasing dominance good or bad?
Posted on: Sat, 27 Dec 2014 14:04:32 +0000
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