It’s been a challenging year 2020, but one positive development is that regulators in the US and Australia have started challenging the Big Tech companies Google and Facebook over alleged misuses of market power. The US Department of Justice is taking on Google over its search dominance and the Federal Trade Commission is taking on Facebook over allegedly restricting competition by buying up potential competitors such as Instagram and WhatsApp. In Australia, the Media Bargaining Code designed to assist traditional media companies negotiate for a share of ad revenue with Big Tech is currently being considered by a Senate committee. In my latest Economics Explored podcast episode Regulating Big Tech, I provide an update on moves by governments and regulators, and I discuss the relevant economic concepts and policy issues.
Links relevant to the conversation include:
Joseph Stiglitz on Regulating Big Tech
Don’t Be Evil: The case against big tech by Rana Foroohar
Australian Treasury Laws Amendment (News Media and Digital Platforms Mandatory Bargaining Code) Bill 2020
Economics Explored EP58: Tech Giants challenged by the Media and Governments
Economics Explored EP22: Antitrust with Danielle Wood from the Grattan Institute
Economics Explored EP21: Surveillance Capitalism with Darren Brady Nelson