The 40-year economic mistake that let Google conquer (and enshittify) the world
16 days ago
- #antitrust
- #monopoly
- The article discusses the concept of 'enshittification,' where monopolies degrade quality and exploit consumers, tracing it back to neoliberal economic policies.
- Industrial Organization (IO) theory, which advocates for vertical monopolies, is critiqued for enabling companies like Google and Essilor Luxottica to dominate markets and raise prices excessively.
- Google's acquisition of Doubleclick and Fitbit are highlighted as examples of vertical mergers that led to anticompetitive practices, despite initial regulatory approval.
- Google's extensive investments through Google Ventures (GV) and 'Google for Startups' allow it to shape the tech ecosystem without significant regulatory oversight.
- The article calls for abandoning IO theory and stricter antitrust enforcement to prevent further market abuses by monopolies like Google.
- Recent news includes updates on antitrust actions, cybersecurity, and digital rights, emphasizing the ongoing struggle against corporate monopolies and government surveillance.