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David Dayen of American Prospect says monopolies are widening the wealth gap

David Dayen, executive editor of The American Prospect, said in an interview with Hill.TV that monopolies are thwarting competition and increasing the wealth gap.

Dayen, who wrote “Monopolized: Life in the Age of Corporate Power,” argued that monopolies prevent workers from using their talents to contribute to society because they force employees to work within their own corporate structures.

He cited Amazon as an example, saying that instead of third-party sellers having the freedom to conduct their business in a way that is profitable and beneficial to them, they now “have to go through Amazon’s private government that they put together to govern their marketplace.”

“It’s an incredible imposition on people who are trying to make a living in a small business,” Dayen added.

He also low wages and benefits stem from monopolies eliminating their competition.

“If you have few producers who are bargaining for your labor, there’s little chance of you being able to get better wages and benefits,” he said.