The multi-pronged attempt by stateAttorneysGeneral, the Department of Justice, and the Federal Trade Commission to find Google and Facebook liable for violating antitrust law may result in breaking up these giant companies. But in order for any of this to cause lasting change, we need to look to the not-so-recent past.
In the world of antitrust, the calls to “break up” Big Tech companies translate to the fairly standard remedy of “structural separation,” where companies are barred from selling services and competing with the buyers of those services (for example, rail companies have been forced to stop selling freight services that compete with their own customers). It has been done before as part of the fight against communication monopolies. However, history shows us that the real work is not just breaking up companies, but following through
Rise of Oligopolistic Dominance
As debt-laden distressed companies fall by the wayside, some cash-rich large companies are practically monopolising their sectors
Illustration by Siddhant Jumde
During the 26th meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), one of the MPC members - Jayant R. Varma, Professor, Finance and Accounting, IIM Ahmedabad - made an interesting observation, which many in government institutions would barely admit to. Anecdotal evidence suggests that in several sectors which are characterised by an oligopolistic core and a competitive periphery, the oligopolistic core has weathered the pandemic well and it is the competitive periphery that has been debilitated. Rising profits and profit margins, improving capacity utilisation and lack of new capacity additions create ripe conditions for the oligopolistic core to start exercising pricing power, he had said. An oligopoly is a form of market form where a sector/industry is
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me what i can search for on the webb report report is that what you want, megyn? countries are pushing hard for international guidelines to control the net, those are countries that often don t allow their own people to freely search the web. they want to push that on the rest of us. they base the whole power play, international agreement set up in the u.n. 25 years ago to regulate international telephone service, ma bell, the baby bells and so forth, international rates. that was when mark zuckerberg was like four years old. they want to use that agreement to control and tax international content, which means somebody in india uses google or microsoft and netflix and those companies would then be taxed on a per click basis. all that money would be gathered up and used to build a broadband system around the globe. the fcc, lawmakers on both side of the aisle in this country oppose that. listen. now does anyone here today believe that these countries proposals would
of government for the first nim a very long time. but he may end up staying on. or the president may ask bill daley. serious discussions and we ll see. we will know something by the end of the week i think, andrea. in fact, just common sense would indicate that this is not a trial balloon. that you don t disrespect someone as close to his white house as senior person politically and in the business world as william daley, bill daley, if you re not going to go ahead with it? it s more than just conversations. you know, it s pretty far along. you would not put his name out there, chuck. to speculate. yes. and you know when we talked, charlie, about this kind of change, yeah, the progressive/left wing of the party might not like it too much. he was with jpmorgan, before that one of the baby bells, but he is the brother and son of the