The United States is against Google’s monopoly – Europe must do the same

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The writer is a professor at the Massachusetts Technology Institute and the 2024 Nobel Prize

Woodrow Wilson warned in 1913: “If a monopolist continues, the monopolist will always sit at the government. I do not expect to see the monopoly.” A century later, the words are more relevant than ever. Silicone Valley’s technological giants not only markets aggressive purchasesThe systematic erosion of lobbying and competition – the government placed themselves in the cars.

The collection of this power is no accident – it is a product of decades of interstest. Regulators repeatedly allow technical giants to capture markets, buy rivals and receive industries in their favor. Once the innovation center, the sector is now hosting the strongest corporations in history. Before splitting, the market capitalization The standard oil was about $ 33 billion in today’s dollar – Google, Amazon and Apple are valuable now: $ 1.8TN, $ 1.8tn, $ 2.9tn, $ 2.9tn.

Monopolization became the most problematic wherever the ability to communicate with each other. The cocoophony of social media platforms such as X and Facebook is the symptoms of a deeper problem: steady space from our independent news. Google in the center of this decline. By handling $ 876 billion (and grow up) Digital advertising ecosystem, Google, income news organizations revenue organizations, turned into a buttleneck that produces a buttleneck. Former Google Executive comparator Preference to Citibank or Goldman Sachs, which has a New York Stock Exchange – an unbelievable regulation elsewhere.

The results are clear. Social media continues to build reliable news as it is poisonous and armed by extremists. Publishers who trust ads to report independently, compete in a market where Google has determined and receives the largest share of earnings. The effects are Reverberat among the society: Consumers carry higher costs, Competition Erodes and Democratic Accountability weaken.

Again, the tides turn. After Seismic judgment last year Google caught a monopoly in the US search markets, last week managed to hold a monopoly in the area that created a wide range of companies last week – digital advertising. Leonie Brimine, USA: “Google has been engaged in a number of competitions to achieve and maintain monopoly power in the advertising server in the publisher advertising server for open web screen advertising.”

Meanwhile, the EU is preparing to manage a parallel against Google’s advantage in advertising technology. These transatlantic efforts offer an unique opportunity to reset the antitrust application. Europe has long recognized that it should be to strengthen its technological sector and reduce dependence on the silicone valley. However, this ambition cannot be carried out if the monopolistic swelling is not addressed.

Silicon Valley defenders claim that the innovations of breaking companies will slow down, but are monopolists Bad for innovation. When the telecommunication giant is in the AT & T Monopoly was forced to license In 1956 patents for all incomes and eventually brokenhelped drive digital revolution.

The only fragment is not enough – reforms, more fair competition than technological oligarchs, to the society that benefits and Authorizes citizens instead of exploiting their data. My countryman is an economist Simon Johnson and I suggest an offer 50 percent collection About digital advertising revenues over $ 500 million will be curbing Google and Meta to curb and create room for competitors. Took early steps with the EU The law of digital markets and Digital Services ActHowever, Google advertising technology provides the opportunity to go beyond fines and set a global precedent and sets a global precedent for meaningful antitrest execution and competition.

Despite the support of the Technological Ecosystem of the Trump Management, many conservatives remains a great technological criticism. US Vice President JD Vance Once praised Chairman of the former US Federal Trade Commission Lina Khan for the implementation of the AntitRest that provides energy. In Google, this latest management, along with active test Against metaDemonstrates the support of a continuous bipartis for stronger antitrust movements.

Now it must graduate from European work. For a long time, silicone valley dictated the rules of the Internet, competing and inequality flew markets to serve their interests. By determining the course to eliminate the advertising monopoly, Europe must shape our digital future for non-European democratic institutions.