This article discusses the concentration of digital markets by large technology companies, known as big techs, and the concerns raised about free competition and its impacts on the global economy. In the first part, it analyzes the defense of free competition and its importance in the global economic order, as well as the concentration of digital markets by big techs, including the concepts of Surveillance Capitalism, Informational Economy, and Instrumental Power. The Facebook vs Cambridge Analytica case is also analyzed. In the second part, regulatory perspectives to limit the monopolizing behavior of big techs are discussed, including the Digital Markets Act (DMA) of the European Union, its justification, impact, and regulatory challenges. Finally, the article evaluates Brazil's Bill 2768/2022, its implications on the Brazilian Competition Defense System, and the need for legislation similar to the DMA to protect free competition in the Brazilian digital market. The aim of this article is to contribute to the discussion on the concentration of digital markets and the defense of free competition by presenting the main concepts and challenges related to this topic and to stimulate the debate on the best way to regulate the digital market worldwide.
DOI:
https://doi.org/10.47975/%20digital.law.vol.5.n.3.cavallaroKeywords:
Digital markets; monopoly; antitrust; big techs; regulation.Abstract
This article discusses the concentration of digital markets by large technology companies, known as Big Techs, and the concerns raised about free competition and its impacts on the global economy. In the first part, it analyzes the defense of free competition and its importance in the global economic order, as well as the concentration of digital markets by Big Techs, including the concepts of Surveillance Capitalism, Informational Economy, and Instrumental Power. The Facebook vs Cambridge Analytica case is also analyzed. In the second part, regulatory perspectives to limit the monopolizing behavior of Big Techs are discussed, including the Digital Markets Act (DMA) of the European Union, its justification, impact, and regulatory challenges. Finally, the article evaluates Brazil's Bill 2768/2022, its implications on the Brazilian Competition Defense System, and the need for legislation similar to the DMA to protect free competition in the Brazilian digital market. The aim of this article is to contribute to the discussion on the concentration of digital markets and the defense of free competition by presenting the main concepts and challenges related to this topic and to stimulate the debate on the best way to regulate the digital market worldwide.
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