Robert H. Bork, ’53, Daniel Crane, ’96: Quoted and Discussed in Article about Big Tech’s Monopolies, along with other Notable Members of the University Community
The Tide Is Turning Against Big Tech’s Monopolies—Because of U. of C.
For decades, economists at the university have argued against antitrust law. The current generation is realizing things may have gone too far.
A couple days ago, BuzzFeed editor-in-chief Ben Smith wrote a piece that got a surprising number of people nodding in agreement: a sense that there’s “blood in the water” from the biggest tech companies in America about antitrust regulation and that “Facebook should probably ease out of the business of bland background statements and awkward photo ops, and start worrying about congressional testimony.”
It might not happen, but Smith seemed to put his finger on a sentiment that’s out there in the right amount, in the right places, that it’s plausible enough for Facebook, Amazon, Google, and their ilk to worry.
Part of the reason it’s out there is the University of Chicago, which has been producing some interesting work on market concentration, its economic effects, and the possibilities of using regulations to counter those. It’s especially novel to be coming from the U. of C., since its economics department is part of how we got to that point in the first place.
Read more at Chicago Magazine