In 2017, the European Commission imposed a record $2.7 billion fine on Google for breaking antitrust rules. The same year, it demanded that Apple pay $15.3 billion in back taxes. What is behind these spectacular penalties? In a clear, straightforward primer, the EU commissioner for competition Margrethe Vestager argues that fair market competition is a requisite for maintaining trust in the market – and society. getAbstract recommends her talk to policymakers and everybody with a stake in Big Tech.
In this summary, you will learn
- Why governments regulate markets,
- How companies can gain unfair advantage over their rivals and
- Why market regulations strengthen people’s trust in society
About the Speaker
Danish politician Margrethe Vestager has been the European Union’s commissioner for competition since 2014.