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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 20 October 2014 [View all]xchrom
(108,903 posts)2. KRUGMAN: Amazon Is Abusing Its Power And Hurting America
http://www.businessinsider.com/krugman-amazon-is-abusing-its-power-and-hurting-america-2014-10
Here's the key part:
Its not just about the money, although thats important: By putting the squeeze on publishers, Amazon is ultimately hurting authors and readers. But theres also the question of undue influence.
Specifically, the penalty Amazon is imposing on Hachette books is bad in itself, but theres also a curious selectivity in the way that penalty has been applied. Last month the Timess Bits blog documented the case of two Hachette books receiving very different treatment. One is Daniel Schulmans Sons of Wichita, a profile of the Koch brothers; the other is The Way Forward, by Paul Ryan, who was Mitt Romneys running mate and is chairman of the House Budget Committee. Both are listed as eligible for Amazon Prime, and for Mr. Ryans book Amazon offers the usual free two-day delivery. What about Sons of Wichita? As of Sunday, it usually ships in 2 to 3 weeks. Uh-huh.
Which brings us back to the key question. Dont tell me that Amazon is giving consumers what they want, or that it has earned its position. What matters is whether it has too much power, and is abusing that power. Well, it does, and it is.
Read more: http://www.businessinsider.com/krugman-amazon-is-abusing-its-power-and-hurting-america-2014-10#ixzz3GgJInkGs
Here's the key part:
Its not just about the money, although thats important: By putting the squeeze on publishers, Amazon is ultimately hurting authors and readers. But theres also the question of undue influence.
Specifically, the penalty Amazon is imposing on Hachette books is bad in itself, but theres also a curious selectivity in the way that penalty has been applied. Last month the Timess Bits blog documented the case of two Hachette books receiving very different treatment. One is Daniel Schulmans Sons of Wichita, a profile of the Koch brothers; the other is The Way Forward, by Paul Ryan, who was Mitt Romneys running mate and is chairman of the House Budget Committee. Both are listed as eligible for Amazon Prime, and for Mr. Ryans book Amazon offers the usual free two-day delivery. What about Sons of Wichita? As of Sunday, it usually ships in 2 to 3 weeks. Uh-huh.
Which brings us back to the key question. Dont tell me that Amazon is giving consumers what they want, or that it has earned its position. What matters is whether it has too much power, and is abusing that power. Well, it does, and it is.
Read more: http://www.businessinsider.com/krugman-amazon-is-abusing-its-power-and-hurting-america-2014-10#ixzz3GgJInkGs
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