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Today we talked about a conversation we had with a Democratic Socialist. In the conversation, this person asserted that Amazon is essentially a "monopoly." This is a common theme thrown about by Bernie Sanders and Elizabeth Warren, and unfortunately it's a theme that has stuck with those on the left and even some of those on the right.
What is a monopoly? Is it simply a large share of any given market? Or is it more complicated than that? For example, you might open the first tattoo shop in your small home town, but that doesn't necessarily mean you have a monopoly. Why? Because you aren't doing anything to keep other competitors from entering that market.
In that same light, can we simply state that Amazon is a monopoly? A quick dive into the figures will show you that they only constitute 49% of all online retail sales, and an even smaller number, 5%, of a retail sales in general. Can we seriously state that a business that only makes up 5% of a total market is obviously a monopoly? Seems like more political theater and demagoguery to me.
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In Liberty,
Charlie & Nate
P.S. We can do this. Keep forging on through the disheartening news, and hate-filled rhetoric. We're here to #MakeLibertyWin
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