FTC: Amazon "extracts enormous monopoly rents from everyone within its reach."

FTC files “the big one,” a lawsuit alleging Amazon illegally maintains monopoly::FTC: Amazon “extracts enormous monopoly rents from everyone within its reach.”

  • elephantium@lemmy.worldEnglish
    3·
    1 year ago

    banks

    Not a monopoly though?

    cable companies

    Agreed on this one! In theory, there are lots of cable companies.

    In practice, you actually only have one cable provider that provides service in your area.

    health care

    Also not a monopoly in my area.

    Don’t get me wrong, I don’t mean to defend any of the abusive practices of any of these industries. It’s just that they’re not monopolies.

    • jackalope@lemmy.mlEnglish
      31·
      1 year ago

      Monopoly as used by professional economists doesn’t refer to a literal 100% marketshare. It refers to distortion.