Big Tech got some good news on Monday when a US district judge dismissed two antitrust cases brought against Facebook by the Federal Trade Commission and a group of states. Curiously, the ruling may also be greeted as good news by the enemies of Big Tech, who say that existing law is not up to the task of prosecuting monopolies and favour a radically different approach.
“Amazon’s Antitrust Paradox” says that this narrow assessment misses the point. Excessive market power gives rise to “a broader set of ills and hazards”. For a start, consumers are not just interested in low prices. They also care about quality, variety, innovation, and what happens to all the data Big Tech collects.
Bear in mind that, according to the revisionists, the dominant firms have been too big for quite some time — Khan’s article is four years old.
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