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FOREWORD: COMPETITION POLICY - DIGITAL ECONOMY - MARKET CONCENTRATION - REMEDIES

Should digital antitrust be ordo-liberal?

This foreword analyses how the main characteristics of the digital economy should shape the objectives, the theories of harm, the process and the remedies of contemporary competition policy. It suggests that the ordo-liberalism offers a normative framework adapted to those characteristics of the digital economy.

History tells us that the concentration of economic power, what US Supreme Court Justice Louis Brandeis described as the curse of bigness, can be as dangerous as the concentration of political power, leading to social unrest and, if the state does not react appropriately and in a timely manner, to the weakening of liberal democracies or, at worst, the outbreak of wars. History also tells us that at the beginning of each industrial revolution, economic power tends to concentrate among the first few firms that master the new technologies. Indeed today, at the dawn of the fourth Industrial Revolution, few big digital conglomerates have accumulated not just important economic but also informational and quasi-regulatory powers. Europe should be particularly worried because most of those

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Alexandre de Streel, Should digital antitrust be ordo-liberal?, February 2020, Concurrences Review N° 1-2020, Art. N° 92610, pp. 2-4

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