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Don’t shackle digital giants They generate ‘network effects’ for the economy Globally, regulators have been expressing concerns regarding digital platforms. One concern is the size of these platforms, as they can influence the daily lives of people and may even harm consumers. In some cases, the allegation is that the platforms give undue preference to their own products and services — the so-called “self-preferencing” claim. What is missing in these criticisms is that each factor also has a positive side and it is for regulators to undertake a careful case-by-case analysis. An i...

Australia passes law making Facebook, Google pay for news Bloomberg February 25 | Updated on February 25, 2021 × ‘The code is a significant microeconomic reform, one that has drawn the eyes of the world on the Australian parliament’ Australia’s parliament passed a world-first law to force digital giants such as Facebook Inc and Google pay local publishers for news content — a move that may unleash more global regulatory action to limit their power. The legislation was passed on Thursday and will ensure “news media businesses are fairly remunerated for the content they generate,” ...