In their misguided attempts to foster competition and innovation, US and European regulators are forging shackles for the very engines that drive technological progress. The Department of Justice, Federal Trade Commission, and state attorneys general have launched numerous antitrust cases against Big Tech companies like Alphabet, Apple, and Meta, while the European Union has introduced the Digital Markets Act (DMA) and the Digital Services Act, with the express purpose of enabling startups to compete and innovate.

These actions, despite intending to invigorate the digital domain, reflect a fundamental misunderstanding of the dynamics at play in technological competition and innovation. Should regulators have their way, we could witness the stagnation of the remarkable technological advances that have benefited consumers, investors, and workers alike.

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