Some members of Congress, the White House, most federal and state antitrust regulators, and a number of pundits are pushing a narrative that Big Tech is five abusive monopolies — Alphabet (Google), Amazon, Apple, Facebook (now Meta), and Microsoft — that need to be reined in. As I have written before, they are wrong: There is actually intense, dynamic rivalry between these five companies and between them and many smaller companies.

But there is great irony in Washington’s rhetoric and proposed solutions: The “solutions” could create actual monopolies where none exist today.

Read Dr. Jamison’s complete blog post at AEI.