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CAMBRIDGE — Ask any economist whether competition is always a good thing, and the answer will be a resounding yes. After all, competition powers what the late William Baumol termed the “innovation machine” of the modern market economy.
Author and law professor Maurice Stucke explains why the practices of Google, Amazon, Facebook, and Apple are so dangerous and what’s really required to rein them in. Hint: Current proposals are unlikely to work. Google. Amazon. Facebook. Apple.
Author and law professor Maurice Stucke explains why Big Tech practices are so dangerous and what’s really required to rein them in.
Policymakers must now acknowledge that healthy markets require competition among different business models, and regulatory intervention is needed to achieve this.
The winner-take-all nature of digital markets means that dominant firms charging a zero price to consumers can maintain large-scale lossmaking operations for many years. This makes it difficult, if not impossible, for start-ups with other business models, such as one based on subscriptions, to...