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Created
Tue, 29/11/2022 - 23:37

When asked to do a three week speaking tour of Germany in conjunction with the Ithaka movie, I was delighted to finally get an Interrail pass after 50 years of unrequited longing. Hoary old followers of this blog will recall I love trains and used to write about them from time to time. So it […]

The post Trains (Mostly), Planes and Automobiles appeared first on Craig Murray.

Created
Tue, 29/11/2022 - 06:12

Economist Cristina Caffarra, a leader in competition and antitrust, warns that ever-expanding tech giants raise concerns about the extent of their power.

Since the 1970s, economists buying into the Chicago School of Antitrust have waved off the dangers of lax antitrust policies, professing that “the market” would sort out issues of competition and punish companies that abuse size and power. The Chicagoans’ narrow focus on direct consumer costs as the sole measure of harm didn't consider the impact of consolidation on small businesses, start-ups, workers, or, for that matter, democratic norms. Nor did it raise red flags for tech platforms that were touted as “free” for users (while monetizing our attention and personal data).

A growing number of critics argue that these basic assumptions are both wrong and outdated, as evidenced by the fact that in many industries, particularly technology, companies have been growing to gargantuan proportions and, as anybody who owns a smartphone is painfully aware, they seem free to gobble competitors, hinder innovation, and serve up crappy, overpriced products.