AMAZON SHOULD BE FOCUS AT FTC ANTITRUST HEARING
Robert B. Engel, chief spokesperson for the Free & Fair Markets Initiative (FFMI), issued the following statement on the Federal Trade Commission’s fifth hearing on “Competition and Consumer Protection in the 21st Century” held today:
“Amazon is the single greatest threat to competition and consumer choice in the modern economy, and it is time that regulators take a closer look at the company’s anticompetitive business practices. By swallowing up both startups and established companies in industries far and wide, Amazon is causing major disruptions to the economic ecosystem that will be felt for decades to come absent action.”
“Today’s hearing is an opportunity for the FTC to show that the modern antitrust conversation will be evidence-based and fact-driven instead of being shut down by industry-funded research.”
FFMI released a memo outlining Amazon’s aggressive acquisition strategy that is stifling competition and restricting consumer choice. The memo highlights several concerns the FTC should focus on; such as Amazon’s access to the consumer welfare standard, sensitive consumer data, vertical merger conduct, and its ability to deflect scrutiny by way of industry-funded studies.
ABOUT THE FREE & FAIR MARKETS INITIATIVE
The Free & Fair Markets Initiative (FFMI) is a non-profit coalition of businesses, consumer advocacy groups, workers and community activists committed to scrutinizing and highlighting emerging market trends that are stifling competition and innovation, influencing federal and local government spending, putting consumer data in harm’s way and limiting consumer choice. For a list of members, please visit https://freeandfairmarketsinitiative.org/about-us/members/. For more information on the Free & Fair Markets Initiative, please visit https://freeandfairmarketsinitiative.org.
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