Advocates of hipster antitrust claim to model themselves after the actions and ideas of Louis Brandeis, but they lack an understanding of business and economic realities, and Brandeis had some conflicting ideas on the topics anyway.
On this episode, Cato’s Ryan Bourne discusses his recent paper, “Is This Time Different? Schumpeter, the Tech Giants, and Monopoly Fatalism.”
Some issues have staying power, while others fade. I’m afraid these new takes on tech and trade will linger for some time.
The Justice Department’s approval of the merger between Sprint and T-Mobile doesn’t mark the end of the merger process. But it may signal the beginning of the end — and could provide a new beginning for both Sprint and Dish Network as the 5G revolution unfolds.
A number of proposed regulations on major tech companies could end up costing consumers over $700 billion in lost value. Voters don’t realize what they stand to lose should the would-be regulators succeed.
When conditions are highly uncertain, the best thing to do is generally to wait for more information to come to light. Regulators should take that to heart in approaching the Sprint and T-Mobile merger.
Facebook’s users, and the company itself, might benefit from more regulation, done right. But breaking up Facebook would not solve the problems of privacy, bias, and web addiction cited as reasons for antitrust action.
It’s not surprising that Big Tech companies are attracting new government scrutiny on issues such as data privacy, innovation, electoral integrity, and national security. These are serious policy considerations deserving serious analysis. But that is not what President Trump and the anti-Big Tech Republicans are offering.
Despite the promise of cryptocurrencies such as Bitcoin and Ethereum as democratic currency systems owned by no one, they may concern antitrust authorities due to their susceptibility to influence by concentrated interests.