MEDIA WATCH

VIDEO: Senator Josh Hawley Plans to Break up Big Tech Monopolies

Senator Josh Hawley talked with Tucker Carlson on Tuesday night about his plans to introduce legislation to combat the major tech firms, which he believes have monopolized the market.

Carlson discussed the proliferation of “woke businesses,” including those who met on a conference call over the weekend to discuss their options for using their financial clout to persuade American states to reform their election laws or rethink plans to do so.

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The bill, dubbed a “new trust-busting agenda,” would prohibit companies with a market gap of more than $100 billion from merging or acquiring each other. It also gives the Federal Trade Commission the authority to oversee dominant digital firms in online markets.”

Senator Hawley was working on this bill just in time, according to Carlson, when it was discovered that over 100 businesses came together to try to find out how to reform election law.

“What it will do,” Hawley said, “is place the American people, not these mega-corporations, back in charge of their democracy.” I say, we have to note what our forefathers knew: monopolies and liberty are incompatible.


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“No company should be so big and strong that it can dominate the democratic process, that it can circumvent the will of the voters—and that’s just what today’s mega-corporations are trying to do, with the support of government.”

Amazon, which also manages cloud storage and payment systems, is one of the companies that Hawley is looking at.

“The major tech firms will be broken up as a result. Make them spin by separating their various components “Hawley explained. “For example, Amazon should not be able to monitor both the e-commerce site and the cloud.”

Furthermore, it will prevent businesses from combining or purchasing one another to create these mega-corporations in the first place, according to Hawley. Under the new legislation, banks will be required to slow down their operations, and those who break confidence laws would face “tougher penalties.”

Prosecutors will also be granted the “right to go after these trusts” for the first time. The rivalry needed to sustain a sustainable and competitive free market is at the heart of Hawley’s involvement in these break-ups. With so many large companies, there is little space for entrepreneurial innovation or even a way to break into a market dominated by mega-corporations.

“Antitrust law should have a new emphasis,” Hawley said, “it should be about encouraging competition.” When there is competition, freedom is protected; when there is monopoly, freedom is not.”
Although most conservatives advocate for a free market, Carlson and Hawley argue that the presence of monopolies poses a threat to the market. When only one company is allowed to dominate the available market, there can be no free enterprise.

“It suffocates competition,” Hawley said, “and as a result, the market ceases to function.” You get a market run by a few influential people, not a completely free market.

Source
www.thepostmillennial.comwww.sports.yahoo.comwww.news.yahoo.com

Margaret Taylor

Experienced communications professional with 10 years of experience in international journalism.

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