Best Of The Web
“Sen. Elizabeth Warren, D-Mass., has set out an extreme agenda to break up big tech. She is calling for legislation that would require large tech platforms to be designated as “platform utilities” and broken apart from any participation on that platform. She also vows that her administration would appoint regulators committed to reversing illegal and anti-competitive tech mergers.
Warren’s policies are misguided and premature. Undeniably, the big tech platforms have resulted in innovations enabling the launch of new products and services resulting in many benefits to consumers. That is due to the nature of a free market economy which provides incentives of firms to innovate and grow. When the rewards of that innovation are removed, and firms are restricted in growth, the economy can suffer through less innovation and aggressive competition.
Warren suggests a radical restructuring of these key markets. We know from decades of deregulation of other industries that when the government tries to impose a structure on the market, consumers tend to lose from less competition and innovation. Moreover, such a restructured market may lead to even greater regulation.”
JJ Editor's Picks
"U.S. President Donald Trump thinks he’s suffered more injustice than the alleged witches of Salem, but it could be worse. Pakistan’s former president Pervez Musharaff faced possible impeachment in 2008, leading to his resignation. In the end..."
"The 2000s felt like a decade of looking forward. Wi-Fi went mainstream, phones got smarter, social media connected us, digital tools let us rely less on physical ones. But the 2010s brought a shift. There was still tons of new technology, but..."
"While some women experience pregnancy and childbirth as joyful, natural and fulfilling, others find themselves recoiling in horror at the physical demands of carrying and sustaining a child in their womb, and even more so at the potential..."
"A few months ago, the New York Post’s Steve Cuozzo bemoaned the death of the Manhattan power lunch. Gone were the long, decadent afternoons filled with networking and Negronis: “Suit-and-tie-wearing machers in media and Wall Street gave way to..."
"Economic inequality has moved to the top of the political agenda in many countries, including free-market poster children like the US and the UK. The issue is mobilizing the left and causing headaches on the right, where wealth has long been..."
"If you’re not familiar with the Andrew Lloyd Webber musical Cats — or even if you are — then you probably have many, many questions going into the film adaptation this weekend, especially if you’ve witnessed the widespread bafflement the trailer..."
"Despite his precisely targeted campaign and some unexpected support, the chances of Gideon Saar engineering a surprise defeat of Prime Minister Benjamin Netanyahu in the Dec. 26 primaries for the Likud party leadership are still considered modest.."
"Peter Thiel is Big Tech’s most prominent Trump supporter. He is an unabashed enemy of the free press, having covertly funded a lawsuit that bankrupted Gawker three years ago. He has become one of the most vocal pro-monopoly advocates, taking a..."