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Bills Meant to Fight Big Tech Would Hurt Consumers, Stifle Innovation

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29.06.2021

Courts typically determine what company is a “monopoly,” and therefore deserves additional regulation, based on the standard of consumer harm. Unfortunately, two bills scheduled for a House floor vote this week would seek to change this standard in an attempt to break up big tech companies, but they would harm consumers rather than protect them. If enacted, they would lead to textbook cases of unintended negative consequences by reducing consumer choice, including making products and services more expensive and less accessible.

After years of threats to break up Big Tech, Congress followed through earlier this month in the U.S. House, introducing five regulatory bills aimed at limiting the power and size of tech companies like Amazon, Apple, Facebook, and Google.

Two of the most concerning bills would particularly harm consumer choice, thePlatform Anti-Monopoly Act introduced by House Judiciary Antitrust Subcommittee Chairman Rep. David Cicilline (D-R.I.) andEnding Platform Monopolies Act by Rep. Pramila Jayapal (D-Wash.). They would restrict competition and stifle innovation by limiting the lines of business in which the platforms can compete.

Both bills dictate how tech companies can run their business, eliminating the common practice of vertical integration, referred by critics as........

© Townhall


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