We should embrace Big Tech innovation
19 July 2023
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Economics
Government and Institutions
Economic Theory
25 June 2024
IEA research quoted in the Daily Brit
The Daily Brit has quoted IEA’s publication Hayek on Competition: A liberal antitrust for a digital age? in their article exploring the detrimental impacts antitrust measures can have in the digital age.
The Daily Brit wrote:
“Regulators have become too fearful of ‘Big Tech,’ according to a new Hobart Paper published by the free market think tank the Institute of Economic Affairs. A competitive market may only have a few large companies if they efficiently provide high-quality products and innovate.
“Paper author Dr Cento Veljanovski, an economist and legal scholar, highlights that even the largest established digital firms “are constantly innovating, offering consumers new and better services typically to stay ahead of the game and the wall of potential competitors.
“Digital services have delivered immense benefits to humanity through innovative products, often at zero direct cost to consumers. Rather than fearing their bigness and pursuing potentially dangerous interventions, policymakers should seek to embrace the immense power of dynamic competition.”
You can read the full piece here.
The Daily Brit wrote:
“Regulators have become too fearful of ‘Big Tech,’ according to a new Hobart Paper published by the free market think tank the Institute of Economic Affairs. A competitive market may only have a few large companies if they efficiently provide high-quality products and innovate.
“Paper author Dr Cento Veljanovski, an economist and legal scholar, highlights that even the largest established digital firms “are constantly innovating, offering consumers new and better services typically to stay ahead of the game and the wall of potential competitors.
“Digital services have delivered immense benefits to humanity through innovative products, often at zero direct cost to consumers. Rather than fearing their bigness and pursuing potentially dangerous interventions, policymakers should seek to embrace the immense power of dynamic competition.”
You can read the full piece here.
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