The Blues have spent over £200 million on players this summer and Klopp recently suggested that Liverpool needed to take a different approach to teams "owned by countries and oligarchs".
However, Lampard responded by suggesting that Liverpool spent big on stars such as Virgil van Dijk and goalkeeper Alisson to help them win the Premier League title.
When asked about Klopp's comments, he said: "I was less annoyed with it, I found it slightly amusing.
"It's a fantastic story of a club - over four and a half, five years that Jurgen Klopp's been there - that have managed to get recruitment right to a really high level.
"You can go through the Liverpool players - Van Dijk, Alisson, Fabinho, (Naby) Keita, (Sadio) Mane, (Mo) Salah - incredible players that came at a very high price.
"The really smart thing they have done is believe in their coach and system for a number of years. It's a great story, but it's story that has seen money spent on players."
Lampard added that it is "par for the course" for teams that win the Premier League to spend a lot of money on transfers.
The former Chelsea midfielder said: "And the reality is probably, other than maybe Leicester, which is an incredible story, most clubs that win the Premier League in the modern day have recruited well and recruited at a high level money-wise."