Amazon was once a small online retailer that sold books. Now, it is one of the largest corporations in the world with a presence in various sectors of daily life. From shopping to streaming services to healthcare, Amazon has left its mark on many industries. However, for decades, regulators turned a blind eye as Amazon dominated the market.
Recently, a landmark lawsuit filed by the Federal Trade Commission accused Amazon of participating in illegal market behavior. Regulators are now calling for the e-commerce giant to be held accountable for violating antitrust laws. While it is possible that Amazon could have faced legal action much earlier, it is not clear why this did not happen until now.
On Lever Time, David Sirota and Senior Podcast Producer Arjun Singh delved into the history of how an ideological movement influenced by business interests hindered antitrust enforcement in the United States for almost half a century. This allowed Jeff Bezos to create his vast empire. In Monday’s episode of Lever Time, paid subscribers will focus on whether Ronald Reagan intentionally destroyed middle-class wealth. Stacy Mitchell, co-executive director of the Institute for Local Self-Reliance and a monopoly power expert, argues that this was indeed the case due to reasons she will explain in detail during her discussion with Sirota and Singh.
