Online intermediaries have emerged as the railroad monopolies of the 21st century, controlling access to market and increasingly determining who wins and who loses in today’s economy. Their dominance drives inequality and afflicts citizens and business-owners in all corners of American society.
Open Markets Institute calls on Congress and the Federal Trade Commission to immediately investigate how to protect America’s independent news media from the power and predatory business models of Google and Facebook.
In The New York Times, Open Markets board member Zephyr Teachout writes that a city that thrives on the energy of its neighborhood merchants should not offer incentives and giveaways to an internet giant known for squashing small businesses.
This week’s FTC hearings on the growing power of companies like Amazon, Facebook, and Google only included economists who have taken money, directly and indirectly, from giant corporations that have a stake in the debate.