Question
There is a lot of concern expressed about the power of Big Tech companies. Consider whether Big Tech is something to be celebrated or alarmed
There is a lot of concern expressed about the power of Big Tech companies. Consider whether Big Tech is something to be celebrated or alarmed about, and analyse what should be done about these companies from an economic perspective. - main question
If we can include: Are the Big Tech
companies, such as Amazon, Apple, Facebook, Google and Microsoft -
innovative powerhouses that should be 'left alone', or even celebrated, or
monopolies that should be dealt with, as such? The traditional approach in
this area, which derives from our standard models of competition and
monopoly, tends to view such market dominance with suspicion, whereas, a
more 'Schumpeterian' approach may view this as a price worth paying for the
innovation which they bring forth. To what extent is monopoly a threat to
consumers versus a creative and dynamic force within the economy?
will leave a very good review!
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