The European Union’s new Digital Markets Act (DMA) is a complex, many-legged beast, but at root, it is a regulation that aims to make it easier for the public to control the technology they use and rely on. One DMA rule forces the powerful “gatekeeper” tech companies to allow third-party app stores...
I think in the end it all comes down to putting power back into the hands of regulators — power that corporate America has been slowly and steadily eroding for the last 40 years.
A more powerful regulatory state could start enforcing the anti-trust laws we already have on the books by breaking up the massive tech monopolies. Once that’s done, new regulations and new legislation against anti-consumer practices are needed, but those will only work if the punishments scale high enough to work as an actual deterrent against the multi-billion dollar tech giants.
Of course, we’d also need massive, MASSIVE campaign finance and lobbying reforms so that monied interested aren’t able to sabotage the system all over again.
Or we could just bring back the guillotine… that would probably do the trick too.
You forgot to say that regulatory apparatus should have much fewer points of failure. That is, it should be made stronger and more efficient, but it should be radically contracted. It’s bigger than needs be.
By points of failure I mean opportunities for strong entities to make regulations work for monopolies\oligopolies.