Author David Dayen discusses effects of corporate monopolies on worker wages in new book

David Dayen, executive editor of The American Prospect, told Hill.TV in an interview that corporate monopolization leads to more than high prices for consumers, with workers getting hit by downward pressure on their wages.

“At the bottom, you’re not seeing workers with enough power to bargain for more wages, and at the top there are fewer and fewer people gaining all the profits. So the gap widens and widens,” said Dayen, who discussed aspects of his new book “Monopolized.”

Dayen singled out Amazon, which he called a “digital Somalia.” He said the platform is an example of how third-party sellers are often forced to follow the laws of larger companies that control the market for smaller businesses.