Important Article From The New Republic
This week The New Republic features editor Franklin Foer’s powerful article that examines the crushing effects of Amazon on small businesses and independent publishers. Foer’s portrait of Amazon is not only eye opening, it is also disturbing– especially for the book industry:
“…as [Amazon] amasses economic power, it also acquires greater influence in the cultural and intellectual life of the nation. Consider Amazon’s relationship to the publishing industry. A recent survey conducted by the Codex Group , released in March, found that Amazon commands a 67 percent share of the e-books market…And when it comes to the sale of all new books–hard, soft, and electronic–Amazon accounts for 41 percent…Even though the five major publishing houses have political connections and economic power of their own, they just can’t compete.”
Looking back to America’s Gilded Age and the history of monopolies in this country, Foer writes that we must put an end to “our collective denial,” calling for nothing short of a “radical plan to stop” Amazon’s monopoly on today’s market.
If you haven’t already read this article, you can read it online or in this week’s printed issue.
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