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Facebook should not have been allowed to acquire Instagram. The law targeting monopoly is broken in the digital era.

• oldgradstudent 8y ago
  The law is not broken, it's just that no one has bothered enforcing it in the last few decades. One reason is that much of the mainstream economic discipline has pronounced that antitrust is "a jumble of economic irrationality and ignorance." to quote Alan Greenspan. As an example of how views changes is a quote from the Sherman Antitrust Act of 1890: > Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court. But today, the business mode of almost every startup is to monopolize some part of the trade or commerce, preferably all around the world. The announce it publicly without any concern about antitrust enforcement.