Geoffrey A. Manne is the President & Founder at the International Center for Law & Economics. Kristian Stout is the Associate Director of Innovation Policy at the International Center for Law & Economics.
The submissions in this symposium thus far highlight, in different ways, what must be considered the key lesson of the Amazon/Whole Foods merger: It has brought about immense and largely unforeseen (in its particulars, at least) competition — and that competition has been remarkably successful in driving innovations that will likely bring immense benefits to consumers and the economy as a whole.
Both before and after the merger was announced, claims of the coming retail apocalypse — the demise of brick-and-mortar retail at Amazon’s hands — were legion. Grocery stores were just the next notch on Amazon’s belt, and a stepping stone to world domination.
What actually happened in the year following the merger is nearly…
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