Wednesday, February 28, 2018

Are Google and Facebook Monopolies?

Dominick Armentano, who literally wrote the book against antitrust law (The Myths of Antitrust: Economic Theory and Legal Cases) emails:

Tyler Cowen offers a sound and spirited defense of the corporate behavior of both Facebook and Google in this video (which was sent along by Robert Hessen, author of the classic "In Defense of the Corporation." My only quibble is his failure to rebut the allegation by his opponent that the old Standard Oil Corporation was a "monopoly" and that the SC ordered divestiture in 1911 was good public policy. Aside from that, a quality performance and well worth watching. 


Also see: Was Standard Oil a Monopoly?


  1. They should be declared public utilities and attacked viciously by the federal government.

    1. Exactly! The public will know what best for us! We can't just have all these random people providing random goods and services for random people, all willy-nilly like. Economic Anomalies will surely form from the chaos and destroy the universe as we know it!

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