Should we break up the tech giants? Not if you ask the economists who take money from them

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Amid growing concern over the power of such behemoths as Amazon, Google, Facebook, and other tech giants, in recent months there’s been a bipartisan push for better enforcement of antitrust rules–with even President Trump saying in August that their size and influence could constitute a “very antitrust situation.” The Federal Trade Commission has launched its most wide-ranging study of corporate concentration in America in more than 20 years with a series of hearings being held around the country. Chairman Joseph Simons, a practical enforcement-minded leader, launched the hearings by expressing concern over the growing problem of monopoly, which is now found in nearly every sector of the economy. “I approach all of these issues with a very open mind,” said Simons, “very much willing to be influenced by what I see and hear.” But there’s a problem. The FTC organized these hearings so that Simons and the public would be hearing from many economists who have taken money, directly or indirectly, from giant corporations.

[Matt Stoller and Austin Frerick are fellows at the Open Markets Institute]


Should we break up the tech giants? Not if you ask the economists who take money from them