In this case, it isn't the wage of each employee that matters. Companies like Amazon and Google and especially Facebook have become so digitally automated that they pay much lower wages per dollar of income than any competitor can hope to do.
While this depresses jobs more than it does wages, it makes it equally as hard for a competitor to compete on the cost of labor as suppressing wages would do. Either way, the net effect is to suppress competition.
A greater problem comes when a market dominator extends their power into other market niches controlled only by cost, like generics and foodstuffs, as Amazon especially is doing.
One solution is to disable entry of a monopolist into these downstream markets, as Warren is proposing. But a more lasting redress must somehow diminish the company's position of monopoly.
While this depresses jobs more than it does wages, it makes it equally as hard for a competitor to compete on the cost of labor as suppressing wages would do. Either way, the net effect is to suppress competition.
A greater problem comes when a market dominator extends their power into other market niches controlled only by cost, like generics and foodstuffs, as Amazon especially is doing.
One solution is to disable entry of a monopolist into these downstream markets, as Warren is proposing. But a more lasting redress must somehow diminish the company's position of monopoly.