You probably don’t need us to tell you about Nobel Prize-winning economist and NYT op-ed columnist Paul Krugman’s latest piece: “Amazon.com, the giant online retailer, has too much power, and it uses that power in ways that hurt America.” Indirectly answering his NYT colleague Joe Nocera, who wrote, “Amazon plays rough, so what?” and noted “American antitrust law is simply not very concerned with the fate of competitors,” Krugman asserts that for now Amazon is monopsonist rather than a monopolist. “In economics jargon, Amazon is not, at least so far, acting like a monopolist, a dominant seller with the power to […]
