The top 5 largest companies based on their market capitalization are Apple (2.368 T), Microsoft (2.215 T), alphabet (google 1.857 T), Amazon (1.672 T), and Facebook (928 B). Combining these five companies makes up roughly 38% of the S&P 500, one of the most popular market indexes. Not surprisingly, every one of these companies are in the high-flying tech industry. In addition, these companies are currently or have been in a lawsuit regarding business practices that violate antitrust regulations. Antitrust regulations are laws developed and enforced by the government to protect the consumer from business practices deemed predatory while ensuring a fair marketplace.
It is known that antitrust laws are essential to restrict a dominant firm from forming a monopoly in their marketplace, but have you ever thought if there are enough antitrust regulations for large tech companies?
Some firms believe that having antitrust regulation can cause more harm than benefit due to these laws restricting companies from innovation or becoming more effective. Large tech companies are powerful enough to lobby for deregulation laws; however, we believe that must come to an end and have effective antitrust laws in place to restrict these companies from capturing further market share.
– Please write the Body Section (3 paragraphs of 6 sentences each)
Who is affected/How are they affected?
You can use some of the sources attached for the references.
Bridis, T. (2004, Jul 01). U.S. appeals court approves microsoft antitrust settlement ; mass. objections to sanctions' lack of severity set aside: [ALL edition]. Telegram & Gazette Retrieved from https://www.proquest.com/newspapers/u-s-appeals-court-approves-microsoft-antitrust/docview/268908406/se-2?accountid=10901
Fontana, J. (2004). Microsoft puts anti-trust issues behind it. Network World, 21(46), 14. Retrieved from https://www.proquest.com/trade-journals/microsoft-puts-anti-trust-issues-behind/docview/215982247/se-2?accountid=10901
Hazlett, T., Litan, R., & Rockefeller, E. (2000). Legal and economic aspects of the microsoft case: Antitrust in the information age. Business Economics, 35(2), 45-53. Retrieved from https://www.proquest.com/scholarly-journals/legal-economic-aspects-microsoft-case-antitrust/docview/199841093/se-2?accountid=10901
President Trump & attorney general sessions lack support for breaking up tech, new NetChoice survey finds: Just 5% of Americans want antitrust focus on tech. (2018, Sep 25). PR Newswire Retrieved from https://www.proquest.com/wire-feeds/president-trump-amp-attorney-general-sessions/docview/2111716058/se-2?accountid=10901
Hough, J. (2020). Scott Galloway on TikTok and big tech's antitrust reckoning. Barron's (Online), Retrieved from https://www.proquest.com/trade-journals/scott-galloway-on-tiktok-big-techs-antitrust/docview/2433342646/se-2?accountid=10901
Pop, V. (2019, Sep 02). No relief for big tech under new EU leadership; incoming EU commission president plans new laws on artificial intelligence and the use of big data as earlier investigations by the bloc's antitrust enforcer continue. Wall Street Journal (Online) Retrieved from https://www.proquest.com/newspapers/no-relief-big-tech-under-new-eu-leadership/docview/2283101974/se-2?accountid=10901
Stacey, K., Shubber, K., & Murphy, H. (2019). Which antitrust investigations should big tech worry about? FT.Com, Retrieved from https://www.proquest.com/trade-journals/which-antitrust-investigations-should-big-tech/docview/2309565235/se-2?accountid=10901
Mance, H. (2014). Publishers call for Amazon antitrust inquiry: General retailers. Financial Times, Retrieve from
New, D. (2020). Flipkart Moves Karnataka HC against Antitrust Probe [Companies: Pursuit of Profit]: Move comes after the court stayed investigation following a similar plea by rival Amazon. The Economic Times (Online), Retrieve from
Southfield. (2020). US Unlikely To Copy EU's Antitrust Charge Against Amazon — Antitrust Lawyer. Benzinga Newswires, Retrieve from
Kang, C., Streitfeld, D. & Karni, A. (2019). Antitrust troubles snowball for tech giants as lawmakers join in. https://www.proquest.com/docview/2233954100/5C5EFD662FB84F70PQ/48?accountid=10901
Gilbert, B. (2021, May 03). Apple and the maker of 'fortnite' are facing off in an epic legal battle. here's what the companies are fighting about and what to expect in the courtroom. Business Insider Retrieved from https://www.proquest.com/newspapers/apple-maker-fortnite-are-facing-off-epic-legal/docview/2521068404/se-2?accountid=10901
Jamison, M. (2019). Buttigieg, Sprint/T-mobile, and spotify vs. apple show why old-school antitrust doesn’t work for tech. Washington: American Enterprise Institute for Public Policy Research. Retrieved from https://www.proquest.com/blogs-podcasts-websites/buttigieg-sprint-t-mobile-spotify-vs-apple-show/docview/2216562283/se-2?accountid=1090
"Clayton Antitrust Act." American Decades, edited by Judith S. Baughman, et al., Gale, 2003. Gale eBooks, https://go.gale.com/ps/i.do?p=GVRL&u=miam11506&v=2.1&it=r&id=GALE%7CEJ2113110133&inPS=true&linkSource=interlink&sid=bookmark-AONE
Weiser, Philip J. "The relationship of antitrust and regulation in a deregulatory era." Antitrust Bulletin, vol. 50, no. 4, winter 2005, pp. 549+.
Shelanski, Howard. "Antitrust and Deregulation." Yale Law Journal, vol. 127, no. 7, May 2018, pp. 1922+
Kehoe, L. (1998, Jul 14). Intel denies monopoly charge: Chipmaker hits back at antitrust claims: [USA edition]. Financial Times Retrieved from https://www.proquest.com/newspapers/intel-denies-monopoly-charge-chipmaker-hits-back/docview/248669521/se-2?accountid=10901
Wolffe, R. (1998, May 19). Government vs big business: In the wake of the microsoft suit, richard wolffe studies the reasons for the wider upsurge in US antitrust activity.: [london edition]. Financial Times Retrieved from https://www.proquest.com/newspapers/government-vs-big-business-wake-microsoft-suit/docview/248649867/se-2?accountid=10901
Sanghera, S. (2000, Apr 29). Latest in a line of companies to be humbled SHERMAN ANTITRUST ACT: [london edition]. Financial Times Retrieved from https://www.proquest.com/newspapers/latest-line-companies-be-humbled-sherman/docview/248902947/se-2?accountid=10901
Baker, G., & Spiegel, P. (2002, May 01). Profit and loss: Popular sentiment in the US has turned against the excesses of big business. but corporations are managing to resist a tough legislative response, say gerard baker and peter spiegel: [london edition]. Financial Times Retrieved from https://www.proquest.com/newspapers/profit-loss-popular-sentiment-us-has-turned/docview/248255779/se-2?accountid=10901
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