Antitrust in the Digital Age: Does New Technology Call for New Rules?

America’s technology companies have created huge gains for consumers, developing networks and products that connect the world in ways that were inconceivable just 20 years ago. Yet this progress has not been without its critics. The dominance of large platforms has led to concerns about the harmful effects of lock-in and path dependency, with many arguing the technology sector is unique and requires new approaches to antitrust policy. In particular, it is argued that the consumer welfare standard that guides American antitrust policy is ineffective for regulating Big Tech. Yet with the lack of demonstrable consumer harm, would increased government interventions improve the market?