Should democracies wrest back control from corporations? | Daron Acemoglu, Nick Gillespie
25Daron Acemoglu and Nick Gillespie debate whether governments should intervene and restrict Big Tech companies' power at the expense of damaging their own economies.
00:00 Introduction
00:22 Nick Gillespie | We should be wary of government intervention.
03:20 Daron Acemoglu | The future of Big Tech is even more worrying. Actions need to be taken.
07:54 Nick Gillespie | Western societies are bound to use those regulations for political purposes.
Watch the full debate at https://iai.tv/video/corporations-vs-the-people?utm_source=YouTube&utm_medium=description
Thomas Jefferson asserted, “I hope that we shall crush corporations which dare already to challenge our government to a trial of strength”. Yet, a hundred and fifty years on, the power and influence of corporations and billionaires has continued to grow. Just one of the big tech firms, Apple, has a valuation equivalent to the GDP of major economies like the UK or India. With governments seemingly unable to redress the balance, many argue governments don't rule the world; corporations do. Should democracies intervene to wrest back control from corporations, no matter the short-term damage to their economies? Or does competition between corporations mean we have nothing to fear and only the benefits of innovation and new technology to gain?
#CorporationVsDemocracy #BigTechRestrictions #WeakeningDemocracies
Elizabeth and James Killian Professor of Economics at MIT Daron Acemoglu, journalist and editor-at-large of libertarian publication Reason Nick Gillespie and Chief Economist at the European Bank for Reconstruction and Development Beata Javorcik debate whether the state should take more control of key sectors including big tech. Linda Yueh hosts.
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