this post was submitted on 27 Sep 2023
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FTC files “the big one,” a lawsuit alleging Amazon illegally maintains monopoly (arstechnica.com)
submitted 1 year ago by [email protected] to c/[email protected]
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FTC files “the big one,” a lawsuit alleging Amazon illegally maintains monopoly::FTC: Amazon "extracts enormous monopoly rents from everyone within its reach."

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[–] [email protected] 3 points 1 year ago (1 children)

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.

[–] [email protected] 2 points 1 year ago

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