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What are the downsides of monopoly

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Reference no: EM132919344

The U.S. Department of Justice (DOJ) has announced a huge antitrust investigation into the Big Four Tech companies-Google, Facebook, Apple and Amazon. The Justice Department will review the juggernauts to determine if they are engaging in monopolistic anti-competitive activities. The DOJ's Antitrust Division will, according to its press release, review "whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation or otherwise harmed consumers."

PROMPT:

-What are the downsides of monopoly?

-Why should the government even get involved in the business of these companies?

-Do you think our current laws are able to address the business of these tech giants? Why or why not?

Reference no: EM132919344

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