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Big tech is a blessing — a major success story of the American economy. Many tech giants give away their products to consumers for free. Amazon might be pushing down the rate of inflation for the entire economy.
They are engines of innovation, and continue to plow money into research and development. Their size allows for economies of scale and scope, both of which benefit consumers.
Won’t Amazon, Facebook, Google and Apple be dominant forever? Given the fate of Netscape, AOL and Hotmail, I wouldn’t be so sure. Break up big tech? That would only hurt consumers. It’s the wrong move.
– Michael Strain, Director, Economic Policy Studies, American Enterprise Institute (AEI)