On March 30th, the European Union’s Competition Chief Margrethe Vestager ordered the tech-conglomerate Google to pay a $1.7 billion fine for ‘abusing its position in online search advertising’. The European Commission reported that Google had aimed to shield itself from competitive pressure; the firm had imposed restrictive exclusivity clauses in AdSense contracts, blocking its rivals from placing ads on 3rd Party websites. The penalty was the third in a series of billion-dollar antitrust violations delivered by Europe to Google since 2018, and indicative of a wider-trend of European regulation against rapidly-growing technology companies such as Facebook, Google, Apple, and Amazon.
As we approach the 18th edition of the Warwick Economics Summit, let’s take a look back at the history of this conference and see how it has grown to become one of the largest of its kind in Europe.
The IMF has published a research paper (Diez et al. 2018) stating that an increase in markups does not lead to an increase in investment, as has been hypothesised in classical economic theory. Rather, in industries with a higher concentration of monopoly power, they just lead to higher profits.
2019 marks a momentous year for Romania’s past, present and future. Three decades ago, the Berlin wall was torn down, opening the iron curtain and beginning the country’s rapid modernization process. January 1st this year, Bucharest kicked off its 6-month presidency of the European Council, drawing the spotlight to the uncertain state of its domestic democracy and rule of law. And yet, as a leader in technology and cybersecurity, Romania could prove itself a crucial asset to NATO and the EU’s future as the upcoming European elections make the prospect of Russian cyber attacks ever more likely.
In 2010, the UK’s Prime Minister, David Cameron, founded The Behavioral Insight Team (BIT) – popularly known as the Nudge Unit – with a simple but impossible mission: Transform the approach of major government departments and deliver a tenfold return on its cost.
The recent disappearance of Jamal Khashoggi has raised interesting questions about the current state of press freedom.
Jair Bolsonaro’s campaign tactics sounded familiar to anyone who has been exposed to Donald Trump’s own election trail: he promised to return to “traditional values”, to rid the country’s political system of corruption and uplift the economy out of a long and suffered economic slump. He held rallies and televised ads, and his presence on the major social media platforms was evident. What is less known to the international crowd is how the messaging platform ‘WhatsApp’ might have helped the far right candidate spread falsehoods and embolden his political momentum.
Nearly every major film production company is vying for Netflix’s top spot in the streaming industry. This competition, surprisingly, is expensive for consumers.
This is the second part of our analysis of Amazon’s rise to 1 trillion. Today, we look at the changing relations between Amazon and the US political circles.
When a company registers £178 billion revenue and employs 560,000 people, it does not go unseen in Washington’s, London’s or Brussels’ corridors of power. Amazon is no exception. The online retailer’s relation with politics is complex, being alternatively cooperative or detached, but is always functional to profit maximisation. Continue reading “Race to One Trillion: Amazon’s Affairs in Washington”