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Today, the House Judiciary Committee announced that it is launching a bipartisan investigation into whether large technology companies are behaving in anticompetitive ways, and whether existing competition law can adequately address the challenges posed by these digital giants. A careful analysis will enable Congress to better consider whether it should pass stronger competition laws targeting technology companies.
The following can be attributed to Harold Feld, Senior Vice President of Public Knowledge:
“We applaud the bipartisan effort to engage in the kind of fact-finding and careful analysis that is reminiscent of the era in which Congress considered excess market power in the telecommunications sector 25 years ago. It is refreshing to see both parties committed to a rigorous and broad analysis to understand the complexities and importance of the digital marketplace, and the increasing signs of growing dominance by a small number of companies.
“We are particularly appreciative that the committee will examine both the problems in the market and the possible policy solutions to be considered. As the committee recognized, we need to look beyond enforcement of existing antitrust laws and consider other competition policies to address these issues. In addition to looking at whether antitrust enforcement is necessary, we hope that Congress will also consider sector-specific legislation to address the unique aspects of this market.”
For more information, you may view Harold Feld’s new book, “The Case for the Digital Platform Act: A Book on Market Structure and Regulation of Digital Platforms,” for recommendations on specific legislation to address competition problems in the technology sector. Additionally, you can view the Stigler Center’s recent report for an analysis of the digital market.