"consumer harm"

Facebook and Big Tech are monopsonies, even when they're not monopolies

Big Tech is often in a monopoly situation (for example, Amazon's Audible owns something like 90% of the audiobook market), but even where they aren't monopolies, they are often monopsonies: a single buyer that controls the whole market that a variety of sellers want to sell into. Read the rest “Facebook and Big Tech are monopsonies, even when they're not monopolies”

EFF's roadmap for a 21st Century antitrust doctrine

40+ years ago, extremists from the Chicago School of Economics destroyed antitrust law, pushing a bizarre theory that the antitrust laws on America's books existed solely to prevent "consumer harm" in the form of higher prices; decades later, we live in a world dominated by monopolists who use their power to crush or swallow competitors, suppress wages, reduce choice, increase inequality and distort policy outcomes by making lawmakers and regulators dependent on their lobbyists for funding and future employment. Read the rest “EFF's roadmap for a 21st Century antitrust doctrine”

The Curse of Bigness: Tim Wu channels Brandeis on Big Tech (and Big Everything Else)

Tim Wu (previously) is best known for coining the term "Net Neutrality" but the way he got there was through antitrust and competition scholarship: in his latest book, The Curse of Bigness: Antitrust in the New Gilded Age, Wu takes a sprightly-yet-maddening tour through the history of competition policy in the USA, which has its origins in curbing the near-limitless power of the robber barons in the name of creating a pluralistic, open society where anyone could participate, only to have this vision perverted by extremists from the Chicago School, who sold (with the help of wealthy backers) a wholly fictional version of what Congress intended with its antitrust rules. According to Chicago's version of things, the only thing antitrust should concern itself with is the highly technical and speculative question of "consumer harm" (in the form of higher prices) and not competition itself. Read the rest “The Curse of Bigness: Tim Wu channels Brandeis on Big Tech (and Big Everything Else)”

Deleting Facebook is not enough: without antitrust, the company will be our lives' "operating system"

Facebook is the poster-child for the techlash, the worst offender in the monopolistic bunch, and recent books like Antisocial Media: How Facebook Disconnects Us and Undermines Democracy by Siva Vaidhyanathan (previously) and Ten Arguments for Deleting Your Social Media Accounts Right Now by Jaron Lanier present variations on the main critiques of Facebook with some prescriptions for what to do about it. Read the rest “Deleting Facebook is not enough: without antitrust, the company will be our lives' "operating system"”

Big Cable push-polled America on Net Neutrality, still found the majority in favor of it

As Donald Trump's FCC gets set to kill Net Neutrality, lobbyists for the country's telcos and cable operators are tucking in their napkins and picking up their cutlery, getting ready to feast. Read the rest “Big Cable push-polled America on Net Neutrality, still found the majority in favor of it”

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