• Has Amazon become so big that it is starting to affect how the US economy behaves?
• The evidence is somewhat mixed, Amazon probably exerts downward pressure on prices, but not on wages.
• At least, not yet, because we are likely to be close to an inflection point where the automation of the whole logistical trajectory is going to get automated.
• That will likely have a much more profound effect on employment and wages.

Source: Amazon Has Become A Macro Phenomenon | Seeking Alpha