Earlier this week, federal judge Amit P. Mehta posted a 286-page opinion explaining why Google violated federal antitrust law to maintain an illegal monopoly in the online search market. I hate to be that guy, but the court’s book-length opinion is a purely symbolic one. In fact, I will not even bother to read it. Why? Because Judge Mehta does not specify what penalty, if any, should be imposed on Google for its supposed antitrust violations. (See here, for example, or the YouTube clip below.) In any case, I expect the decision to be overruled on appeal.
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This new wave of “trust-busting” in antitrust enforcement is frustrating.
Since the early 20th century there has been cylindrical pattern in American politics of targeting purported “monopolies”. The latest wave prior to Lina Khan’s antitrust crusade was in the late-90s; where the government had their crosshairs on Microsoft.
The fact the judge couldn’t even provide a legal remedy speaks volumes. This isn’t about upholding the rule-of-law, it’s about indulging the populist fervor for anti-corporate sentiment.
Big doesn’t always equal bad. Many larger companies provide superior products and services due to economies of scale and network effects. Most of this neo-trust busting rhetoric is utter rubbish.
The one exception is beer. Bigger companies tend to make watery and bland beer, when they should be running laps around smaller crafter brewers. Not sure if it’s just an issue of marketing for mass appeal or what it is.
Most of the big beer titans are aware of their comparative advantage and have wised up. They have started to purchase smaller craft breweries to stay relevant. E.g) Four Peaks, Goose Island, elysian, etc.
It’s hard to feel sorry for tech giants like Google, but that said, I agree that rule of law > populist fervor
Hear you regarding Google; but at the same time, I have an issue with Chairwoman Khan trying to make a name for herself by looking for “monsters” to destroy.
Absolutely, rule-of-law > than the populist lynch mob. Typically, led and instigated by folks who should know better.
Preach!!!!