CMA too aggressive in Big Tech regulation
28 July 2023
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In the Media
In the Media
Economic Theory
11 November 2024
Cento Veljanovski writes for CapX
IEA Law and Economics Fellow, Dr Cento Veljanovski has written for CapX critiquing the CMA’s aggressive attitude towards Big Tech.
Cento wrote:
“The UK’s competition watchdog – the Competition and Markets Authority (CMA) – has got itself in a pickle with its controversial decision to block Microsoft’s acquisition of Activision, a producer of console games such as Call of Duty.
“The CMA’s new worldview is the ‘precautionary principle’, which holds that any risk to future competition – no matter how remote, speculative and hypothetical – requires intervention if it appears to give Big Tech the ability to introduce new services.
“Hayek viewed the economy as a complex, dynamic, evolving system that could not even be fully known to technocrats, let alone directed by them. Big and small tech companies are not sleepy monopolists – they are dynamic and innovative, investing massive amounts into R&D, and generating huge consumer benefits.”
You can read the full article here.
Cento wrote:
“The UK’s competition watchdog – the Competition and Markets Authority (CMA) – has got itself in a pickle with its controversial decision to block Microsoft’s acquisition of Activision, a producer of console games such as Call of Duty.
“The CMA’s new worldview is the ‘precautionary principle’, which holds that any risk to future competition – no matter how remote, speculative and hypothetical – requires intervention if it appears to give Big Tech the ability to introduce new services.
“Hayek viewed the economy as a complex, dynamic, evolving system that could not even be fully known to technocrats, let alone directed by them. Big and small tech companies are not sleepy monopolists – they are dynamic and innovative, investing massive amounts into R&D, and generating huge consumer benefits.”
You can read the full article here.
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