Amazon is Eating the Economy

Thirty years ago, Amazon was a quirky internet bookseller. But even back then, founder Jeff Bezos wanted to build an empire. Today, Amazon has inserted itself into almost every facet of daily life, and it’s done so by ruthlessly muscling out competition — likely using illegal market tactics.

For years, regulators watched Amazon’s growth and failed to investigate claims that the company violated federal law by engaging in predatory pricing. That changed last year when Federal Trade Commission Chair Lina Khan announced she and 17 state attorneys general were suing Amazon and charging it with being an illegal monopoly. The thing is, Amazon probably could have been sued a long time ago.

On this week’s Lever Time, David Sirota and Arjun Singh unpack how an ideological movement successfully suppressed efforts to challenge corporate monopolies in the United States for nearly half a century and enabled Amazon’s unprecedented rise.

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