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US Congress Plans To Tame The Dominant Position Of Large Technological Monopolies
In the US Congress, plans to tame the dominant position of large technological monopolies and increase the fairness of competition are beginning to take a more concrete shape.
Yazar: Tom Roberts
Yayınlanma: 10 Ekim 2020 22:29
Güncellenme: 22 Aralık 2024 01:00
US Congress Plans To Tame The Dominant Position Of Large Technological Monopolies
In the US Congress, plans to tame the dominant position of large technological monopolies and increase the fairness of competition are beginning to take a more concrete shape. The Democrats in the report of the House of Representatives subcommittee even opened the issue of the division of some monopoly platforms. Large technology corporations such as Amazon, Apple, Facebook and Google are successful not only in the US, but also dominate internationally. However, their fearless position is beginning to be a thorn in the side of politicians. After a 16-month investigation into the market practices of major technology corporations, Democratic members of the House of Representatives' subcommittee on Tuesday released a 449-page report concluding that Amazon, Apple, Facebook and Google were abusing their market position. According to the authors of the report, the companies that were once "hooligan startups" have become the monopolies we last saw in the days of oil barons and railway magnates. "These companies have too much power, which needs to be limited and subject to appropriate supervision," they said. Tools available to curb their monopoly position include, for example, splitting them, blocking future acquisitions or pushing them to open their platforms. Politicians also want to ban their dominant platforms from prioritizing their own services and products. Wall Street was virtually unresponsive to the news when shares of three of the four corporations rose the day after it was released. Investors have long held the view that regulators and politicians do not have the tools to stop the expansion of large technology companies or increase their market shares. What is certain, however, is that the American Democrats will try not to push this issue to the background. In addition, less than a month before the November 3 election, Democratic presidential candidate Joe Biden is well in the polls, and there is a chance that in 2021, Democrats will control the White House and both chambers of Congress. Although the authors of the report admitted that technology companies have brought clear benefits to consumers, their dominant position also has its price. "As a rule, these companies run a business and at the same time operate in this market as a competitor," they said. This position allows the group to set rules for others, while playing according to different rules, as they are only accountable to themselves.İLGİLİ HABERLER
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