Opinion: Amazon, other large corporations should be investigated for dominance in the economy
January 27, 2023
The Tuesday senate hearing against Ticketmaster and its parent company, Live Nation, discussed the dominance of the company in the ticket sale industry.
As well as entertaining Taylor Swift fans with their politicians quoting various lyrics from different Swift songs, the hearing raised the questions: when does a company have a monopoly on something, and if they do, should they be allowed to continue business?
The companies should not.
Take the company Amazon for example. As the smile on the logo indicates, the company has everything from A to Z. With a wide variety of things to choose from, coupled with affordable prices, many people choose to complete their shopping there, rather than from the original creators of a product. Not only can people shop from Amazon, but they can also stream music, watch movies and television shows, read books digitally, and even play and watch videogames through twitch.
Now, when most people think of a monopoly, they picture a white haired man with a monofocal, not Amazon, but it’s true – Amazon has a monopoly on every industry imaginable. And yet, it’s not being attacked by senators through the words of Taylor Swift. Why?
It’s not like Amazon is known for its charity or its phenomenal working conditions. In fact, it is quite the opposite.
According to an article by Forbes, Amazon employees have complained about working conditions for years. They say they have too few bathroom breaks, all of which are timed, excessive productivity goals and unsafe working conditions.
Not only does Amazon create less than ideal working conditions, but it also does not pay fair wages to their employees. After three years on the job, workers no longer receive automatic raises, and when they want to leave, they are given a bonus to do so. This creates a rotation of underpaid workers, allowing Amazon to exploit their employees for more economic gain. And yet, it’s not being attacked by senators through the words of Taylor Swift.
Along with exploiting workers, Amazon has become so powerful that it is able to monopolize the monopolies, i.e. Barnes & Noble.
When Barnes & Noble, a large bookstore chain with a wide selection, first began to open stores across the country, many people described it as the “death of small bookstores.” However, Barnes & Noble’s dominance in the industry was short-lived after the establishment of Amazon.
Amazon began as an online bookstore that had every book imaginable – a revolutionary idea that took the world by storm – and its reputation in the book community still exists today. With the easy accessibility of the company, Amazon successfully took the monopoly of Barnes & Noble for itself. That’s how powerful the company is. And yet, it’s not being attacked by senators through the words of Taylor Swift.
Amazon’s dominance and that of other big corporations such as Meta and Apple hurts society more than it helps. With their founders accumulating wealth into the billions, the companies are able to pay fewer taxes, cover up unethical and inhumane situations and expand into new industries, all in an attempt to keep their spot at the top of the economy.
If the Senate is able to investigate Ticketmaster after a scandal involving Taylor Swift, it should also be able to investigate Amazon and other large corporations that cause scandals in the lives of average citizens.
The reign of terror must end.