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29 Nov, 7 tweets, 5 min read
Happy #MonopolyMonday!

Before you fill your @amazon cart with various gifts for your loved ones, we’re laying out how this corporate monopoly harms small and local businesses, exploits workers, and lies to consumers.
2/ Let’s start with a lesson from @MorePerfectUS & @matthewstoller about how @amazon built its corporate monopoly.

Spoiler alert: cheating.
3/ That hasn’t changed.

Damning reporting from @themarkup found that @amazon places products from its affiliated brands and ahead of competing products—even if those competitors have higher ratings & more sales.

themarkup.org/amazons-advant…
4/ If sellers want their products to be seen, @amazon forces them to pay a host of fees. But even that is no guarantee they’ll be able to fairly compete.

Today, @themarkup launched Amazon Brand Detector to bring some transparency for @amazon shoppers.

themarkup.org/brand-detector
5/ But don’t just take our word on how destructive and harmful @amazon is. Listen to business owners who have directly felt the wrath of @amazon and other equally dangerous Big Tech giants 👇
mainstreetagainstbigtech.org
6/ What about workers?

A 2020 investigation from @reveal found that injuries among @amazon employees have gone up in recent years with spikes around Prime Day & Cyber Monday.

revealnews.org/article/how-am…
8/8 Thankfully, as @Pat_Garofalo lays out in latest newsletter, there are six policies that can help local retailers compete fairly with dominant national chains.
boondoggle.substack.com/p/how-to-save-…

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More from @econliberties

American Economic Liberties Project Profile picture
30 Nov
Inflation panic is everywhere — and for good reason. All across the economy, people are being charged more than they should be for the things they want and need. And naturally, they want to know why.
2/ There’s a quick way to check if a story you’re hearing about inflation is credible: Does it account for corporate profit margins, and acknowledge they are at record highs?

This piece does a nice job of explaining the role of profit here: bloomberg.com/news/articles/…
3/ Other things to understand:

1️⃣ The economy is running very hot and corporations are hoarding whatever they can.
2️⃣ When their costs go up, they pass them on to customers. But when their costs go down, they pocket the difference. This is why shoppers are feeling pinched.
Read 10 tweets
American Economic Liberties Project Profile picture
29 Nov
Systemic monopolization is the root cause of the widespread shortages and dramatic price hikes hitting businesses, workers, and families across the country.

With its new study, the @FTC will help policymakers better understand how concentrated power is eroding supply chains.
2/ We’ve been sounding the alarm about the disastrous effects of consolidated corporate power & supply chains prior to COVID-19.

In February 2020, @matthewstoller predicted in @WIRED a supply chain crash would accompany a global public health crisis.
wired.com/story/covid-19…
3/ And at our inaugural event in March 2020, we discussed the threat concentrated economic power poses to our supply chains w/ @repmarkpocan, @ddayen, @RushDoshi, @sarahmillerdc & Lucas Kunce.
Read 6 tweets
American Economic Liberties Project Profile picture
10 Nov
NEW: Data released today from @BLS_gov shows the industries where inflation has skyrocketed in recent months.

But what has caused inflation to rise? Consolidated corporate power.

🧵⬇️ on how concentrated some of the industries experiencing the greatest rates of inflation are.
2/ Rental Cars 🚗
🔴Inflation: +39%
🟠Concentration: 50% market share by @avis, @enterprise, and @hertz.
3/ Meat, beef & poultry processing 🍗🥩
🔴Inflation: +20% (bacon), +20% (beef), +14% (pork), +8% (chicken)
🟠Concentration: 55% market share by @JBS_oficial, @Tyson_Foods, @cargill, and @SmithfieldFoods
Read 9 tweets
American Economic Liberties Project Profile picture
10 Nov
NOW: we're rallying outside an @amazon bookstore w/ workers, small businesses, and community members to launch New Yorkers for a Fair Economy.

It's time to keep abusive corporations accountable in our communities.

We are demanding for a #FairEconomyNow!
.@SenGianaris kicking off the rally. 👏

"Too much power is given to a few corporations. We must put teeth into our antitrust laws."
"We’re living another gilded age now and it is incumbent on us to pass legislation to really tip the scale in favor of workers." —@jessicaramos
Read 13 tweets
American Economic Liberties Project Profile picture
9 Nov
LIVE: Dominant corporations are corrupting local economies and democracies across the U.S.

Hear how a generation of state and local policymakers are fighting back. twitter.com/i/broadcasts/1…
.@SenGianaris kicks off the event by discussing @amazon's threat to communities.

"The incredible power that they have amassed stretches well beyond the business world. They assert themselves politically, they assert themselves in ways that are very dangerous for our democracy."
.@SenGianaris stresses the importance of passing New York's 21st Century Antitrust Act in the next legislative session.

"This would be nothing short of a revolution in the way we handle antitrust issues in this country." 👏
Read 19 tweets
American Economic Liberties Project Profile picture
19 Aug
Some additional reactions to the @FTC’s incredible case against @Facebook 👇
2/ This suit details @Facebook’s monopoly power in multiple ways.
3/ First, the complaint shows that @Facebook has dominated the social media market whether measured by time spent or daily active users since 2011.
Read 6 tweets

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