Amazon’s online sales growth hurts competitors and requires new regulations that better understand the way tech giants dominate their markets, writes Steven Pearlstein of the Washington Post. Current laws tackle big businesses that unfairly raise prices on consumers, which Amazon doesn’t do. However, it ravages competition with incredibly low prices while forcing them to use and pay for its services. Brick-and-mortar retailers have had their profits slashed by Amazon’s emergence. Regulators need to better understand Amazon’s business model to stop it from creating an unfair playing field that hampers innovation.
The free market has fostered an equal playing field that encourages constant competition, like that between Amazon and Wal-Mart, to the benefit of consumers, infers the Investor’s Business Daily in an editorial. Critics of Amazon’s growth, that accuse it of creating a monopoly, don’t understand the whole situation. Wal-Mart stands out as a competitor that forces the online retailer to raise its game in order to stay on top. Amazon’s emergence is a gain for consumers. Unless it continues to innovate, it will be outdone by future startups. The free market enables this, giving no one an advantage. Amazon’s achievements have benefited everyone.