Google’s Antitrust Cases Competition Analysis in New Economy Markets

Today, global economic performance largely depends on digital ecosystems. E-commerce, cloud, social media, sharing economy are the main products of the modern innovative economic systems which are constantly raising new regulatory questions. Meanwhile the United States has an unimpeachable dominance in innovation and new technologies, as well as a large and open domestic market, the EU is only recently discovering the importance of empowering the European digital economy and aims to break down its highly fragmented cross-border online economic environment. As global economy is rapidly becoming digital, Europe’s effort to create and invest in common digital market is understandable. The comprehensive investigations launched by the European Commission into the role of social network, search engine, or sharing economy internet platforms, which are new generation technologies dominated by American firms; or the recent decision of the Court of Justice of the European Union declaring that the Commission’s US Safe Harbor Decision is invalid1 might be considered as part of an anti-American protectionist policy. However, these measures could rather be seen as part of a broader trend to foster European enterprises in technology developments.

Post Crisis Lessons for Open Economies: Are They All New?

This paper will argue that the American economy could and will absorb the recent shocks, and that in the longer run (within a matter of years), it will somehow convert the revealed weaknesses to its advantage. America has a long record of learning from its excesses to improve the working of its particular brand of capitalism, dating back to the imposition of antitrust controls on the robber barons in the late 1800s and the enhancement of investor protection after the 1929 crash. The American economy has experienced market imperfections of all kinds but it almost always has found, true, not perfect, but fairly reliable regulatory answers and has managed to adapt to change, (e. g. Dodd-Frank Act on financial stability). The U.S. has many times pioneered in the elaboration of both theoretical and policy oriented solutions for conflicts between markets and government to increase economic welfare (Bernanke, 2008, p. 425). There is no single reason why it should not turn the latest financial calamities to its advantage. At the same time, to regain confidence in capitalism as a global system, global efforts are indispensable. To identify some of the global economic conflicts that have a lot to do with U.S. markets in particular, we seek answers to global systemic questions.