Should Government Break Up Tech Monopolies?

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from IBD:

Calls To Break Up Tech Giants Ignore History

Calls to break up tech giants like Amazon, Facebook and Google have been increasing. But while the sentiment is understandable, the free market is far more likely to tame these giants without any government intervention.

We can remember when everyone was promising that the internet would unleash competition by lowering barriers to entry and often by cutting out the middle man. But in some ways the opposite has happened, as three companies wound up controlling the lion’s share of online advertising and commerce.

That, in turn, has generated growing interest in breaking these companies up, or heavily regulating them as monopolies.

This past week, for example, a new coalition called “Freedom From Facebook” launched a petition calling on the Federal Trade Commission to spin off Facebook (FB) subsidiaries Instagram, WhatsApp and Messenger into competing networks.

“Facebook and Mark Zuckerberg have amassed a scary amount of power,” the group says. “It buys up or bankrupts potential competitors to protect its monopoly, killing innovation and choice.”

Amazon (AMZN) is also coming under fire for its sheer size — it is on track to become the first company in history to reach $1 trillion in value.

Bill Simon, the former CEO of Walmart, recently said that Congress should look into breaking up Amazon because it’s “destroying jobs, and it’s destroying value in the (retail) sector,” adding for good measure that “it’s anti-competitive, it’s predatory, and it’s not right.”

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About the Common Constitutionalist

Brent, aka The Common Constitutionalist, is a Constitutional Conservative, and advocates for first principles, founders original intent and enemy of progressives. He is former Navy, Martial Arts expert. As well as publisher of the Common Constitutionalist blog, he also is a contributing writer for Political Outcast, Godfather Politics, Minute Men News (Liberty Alliance), Freedom Outpost, the Daily Caller, Vision To America and Free Republic. He also writes an exclusive weekly column for World Net Daily (WND).

One comment on “Should Government Break Up Tech Monopolies?

  1. Pingback: Should Government Break Up Tech Monopolies? – USSA News | The Tea Party's Front Page

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