The Capital Institute Warns Against Cities’ Subsidies for Amazon’s HQ2, Cites ILSR’s Amazon Report

The Capital Institute Warns Against Cities’ Subsidies for Amazon’s HQ2, Cites ILSR’s Amazon Report

Date: 30 Sep 2017 | posted in: Media Coverage, Retail | 0 Facebooktwitterredditmail

In the News: Stacy Mitchell

September 30, 2017

Media Outlet: The Capital Institute

The Capital Institute’s mission is to search “for a new narrative that will illuminate how our economy and financial system can operate to promote a more just, regenerative, and thus sustainable way of living on this earth.” In that spirit, the Capital Institute’s Future of Finance blog wrote up a piece to cities urging them to do away with their hopes for Amazon’s second North American headquarters. In this blog post, the Capital Institute also mention’s the Institute for Local Self-Reliance’s Amazon report; Amazon’s Stranglehold: How the Company’s Tightening Grip is Stifling Competition, Eroding Jobs, and Threatening Communities.

Here’s our citation:

As a brilliant and searing recent report released by the Institute for Local Self-Reliance points out, Amazon, valued at $450 billion, captures one in every two dollars Americans spend online, thanks in large part to the irresistible genius of Amazon Prime (I admit to being a member). Half of all online shopping searches start directly on Amazon, not on Google or individual retailers’ websites. Think about it. This would make even the railroad barons of earlier days blush.

Cities must think long term, and anyone who doesn’t consider a major anti-trust risk for Amazon that could materially undo its growth plans, even in our corrupt current political environment, is not thinking clearly. In fact, there is already rising bi-partisan clamor rightly agitating around the power of the mega tech platform companies, beginning with Amazon.

Read the full story here.

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Nick Stumo-Langer
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Nick Stumo-Langer

Nick Stumo-Langer is Communications Manager at ILSR working for all five initiatives. He runs ILSR's Facebook and Twitter profiles and builds relationships with reporters. He is an alumnus of St. Olaf College and animated by the concerns of monopoly power across our economy.