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** Amazon’s $34 Billion Makes It an ‘Investment Hero,’ Study Says ([link removed])
by Peter Coy
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Democratic and Republican politicians alike are dumping on Amazon.com Inc. over its ceaseless expansion—marked most recently by its agreement to buy the movie studio with the roaring lion logo, Metro-Goldwyn-Mayer. Representative David Cicilline, a Rhode Island Democrat, says “they are laser-focused on expanding and entrenching their monopoly power,” while Senator Josh Hawley, a Missouri Republican, tweets that Amazon “shouldn’t be able to buy anything else. Period.”
But not everybody is mad at Amazon. A new study from the Progressive Policy Institute, which was founded in 1989 as a centrist Democratic think tank and promises “radically pragmatic thinking,” calls Amazon its No. 1 “investment hero.” It estimates that Amazon boosted its U.S. capital spending by 75% in 2020, to $33.8 billion, from the year earlier, which was more than twice that of any other company.
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