Скачать или смотреть Why House Democrats' Big Tech antitrust report won't go far: Pro

Alex Kantrowitz, founder of Big Technology, joins CNBC's Kelly Evans to discuss the 16-month investigation into competitive practices at Apple, Amazon, Facebook and Google by the House Judiciary subcommittee on antitrust, which concluded the four Big Tech companies enjoy monopoly power. Subscribe to CNBC PRO for access to investor and analyst insights on tech and more: https://cnb.cx/3dIH56N

House Democrats unveiled their nearly 450-page antitrust report Tuesday finding Amazon, Apple, Facebook and Google each hold monopoly power and, in some cases, should have parts of their businesses effectively broken up.

Now, the real work begins.

Lawmakers are charged with the arduous task of rewriting the U.S. antitrust laws — something that hasn’t been done in earnest in decades. The country’s two major antitrust statutes, the Sherman Act (monopoly law) and the Clayton Act (merger law) were passed in 1890 and 1914, respectively. The Federal Trade Commission Act, which established the FTC and gave it powers to regulate competition, was also passed in 1914.

But since those laws were enacted, court rulings have made it increasingly difficult for the government to secure wins when trying to challenge mergers or monopoly conduct, experts testified during the investigation by the House Judiciary subcommittee on antitrust. After a period of robust enforcement in the early 20th century, the Chicago School of Antitrust Analysis emphasized the importance of the “consumer welfare” standard that relied heavily on increased prices as an indication of harm. That sort of standard is especially tricky when it comes to tech companies, which often don’t charge consumers directly for their services, but make money off of ads and data.

Democratic majority staffers on the subcommittee wrote in their report that “the courts have significantly weakened” antitrust laws since their enactment, contradicting Congress’ intent by focusing narrowly on “consumer welfare.”

The staff recommended that Congress go back to the original intent of the antitrust laws by clarifying that they’re not only meant to protect consumers, but also “workers, entrepreneurs, independent businesses, open markets, a fair economy and democratic ideals.”

In statements following the report, all four companies objected to the House Democrats’ characterization of their businesses as monopolies and insisted that robust competition still exists in their markets.

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