久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

USEUROPEAFRICAASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Op-Ed Contributors

Restoring competition in digital economy

By Dalia Marin | China Daily | Updated: 2017-05-31 07:18

The digital economy is carving out new divides between capital and labor, by allowing one company, or a small number of companies, to capture an increasingly large market share. With "superstar" companies operating globally, and dominating markets in multiple countries simultaneously, market concentration in G20 economies has increased considerably in the past 15 years.

To address this phenomenon, that is, to restore competition and reduce income inequality between capital and labor, the G20 should create a "World Competition Network". As a larger share of total income shifts to capital across many G20 countries, the World Competition Network would seek to reverse the decline in labor's share of GDP.

For a period after World War II, 70 percent of national GDP accounted for labor income, with the rest being capital income. John Maynard Keynes described the stability of the labor share as something of a "miracle". But the rule has since broken down. Between the mid-1980s and today, labor's share of world GDP declined to 58 percent, while that of capital rose to 42 percent.

Two forces in today's digital economy are driving the global decline in labor's share of total income. The first is digital technology itself, which is generally biased toward capital. Advances in robotics, artificial intelligence and machine learning have accelerated the rate at which automation is displacing workers.

The second force is the digital economy's "winner-takes-most" markets, which give dominant companies excessive power to raise prices without losing many customers. Today's superstar companies owe their privileged position to digital technology's network effects, whereby a product becomes even more desirable as more people use it. The digital economy has given rise to large companies that have a reduced need for labor. And, once these companies are established and dominate their chosen market, the new economy allows them to pursue anti-competitive measures that prevent actual and potential rivals from challenging their position. And, as economists David Autor, David Dorn, Lawrence F. Katz, Christina Patterson, and John Van Reenen show, the US industries with the fastest-growing market concentration have also seen the largest drop in labor's share of income.

This increased market concentration is widening the gap between the companies that own the robots (capital) and the workers whom the robots are replacing (labor). But confronting it will require us to reinvent antitrust for the digital age. As it stands, national competition authorities in the G20 economies are inadequately equipped to regulate corporations that operate globally.

Moreover, the G20 cannot simply trust that global competition will correct on its own the tendency toward increased market concentration. As Andrew Bernard has shown for the United States and Thierry Mayer and Gianmarco Ottaviano have demonstrated for Europe, international trade favors large superstar companies. Indeed, globalization may provide advantages to the largest and most productive companies in each industry, causing them to expand-and forcing smaller and less-productive companies to exit. As a result, industries become increasingly dominated by superstar companies with a low share of labor in value added.

The US is a case in point. It is host to many of today's superstar companies, and yet US antitrust regulators have not been able to restrain those companies' market power. As the G20 looks for ways to address the problem of market concentration, it should take lessons from the US experience, and look for ways to improve upon the US' failures.

Rather than starting from scratch, we will need to build on national-level competition authorities' institutional knowledge, and include experienced personnel in the process. The European Competition Network can serve as a blueprint for a G20-level network.

The objective of a world competition network is to build an effective legal framework to enforce competition law against companies engaging in cross-border business practices that restrict competition. The network may coordinate investigations and enforcement decisions and develop new guidelines for how to monitor market power and collusive practices in a digital economy.

In the past, the G20 has focused on ensuring that multinational companies are not able to take advantage of jurisdictional differences to avoid paying taxes. But the G20 now needs to expand its scope, by recognizing that digital technologies are creating market outcomes that, if unchecked by a new World Competition Network, will continue to favor multinational companies at the expense of workers.

The author is chair of international economics at the University of Munich and a senior research fellow at Breugel, the Brussels-based economic think tank.

Project Syndicate

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    蜜桃免费在线视频| 日日噜噜夜夜狠狠久久丁香五月| 五月六月丁香婷婷| 奇米精品一区二区三区| 免费av不卡在线| 日韩久久一级片| www国产无套内射com| 中文字幕66页| 人妻熟女一二三区夜夜爱| 久久天天东北熟女毛茸茸| 天天操天天爱天天爽| 国产3p露脸普通话对白| 波多野结衣三级在线| 国产一级做a爰片久久| 成年人网站免费视频| 国产手机视频在线观看| 在线观看免费污视频| 国产aaa一级片| 日韩极品视频在线观看| 国产一区一区三区| 久久久精品高清| 欧美黑人又粗又大又爽免费| 妞干网在线观看视频| 青青草视频国产| 国内av免费观看| 在线能看的av网站| 亚洲色图 在线视频| 92看片淫黄大片一级| ww国产内射精品后入国产| 日韩精品在线视频免费观看| wwwjizzjizzcom| 成人在线观看www| 亚洲av毛片在线观看| 日韩a一级欧美一级| 污污的视频免费| 一区二区三区网址| 黄色国产小视频| 动漫av免费观看| 免费大片在线观看| 国产无套粉嫩白浆内谢的出处| 妺妺窝人体色www在线小说| 国产一区二区在线视频播放| 777777av| 日韩人妻精品无码一区二区三区| 国产v片免费观看| 国产极品尤物在线| 草草久久久无码国产专区| 国产男女在线观看| 北条麻妃视频在线| 污视频网站观看| 亚洲怡红院在线| 四虎成人在线播放| 在线观看污视频| 男人的天堂avav| 国产主播自拍av| 精品无码一区二区三区在线| 夫妻免费无码v看片| 日韩福利视频在线| 免费成年人高清视频| 91网址在线观看精品| 日本丰满大乳奶| 你真棒插曲来救救我在线观看| 99视频在线免费播放| 亚洲精品中文字幕无码蜜桃| www.亚洲高清| 色撸撸在线观看| 成品人视频ww入口| 中国丰满人妻videoshd| jizz大全欧美jizzcom| 青青草原国产免费| 日本a在线免费观看| 成年人视频在线免费| 久久久久久久高清| 激情成人开心网| av片中文字幕| 欧美激情第一区| 久久这里只有精品18| www黄色在线| 亚洲免费av网| 久久国产亚洲精品无码| 日本特黄a级片| 日本中文字幕一级片| 国产成人黄色片| 亚洲精品mv在线观看| 农民人伦一区二区三区| 欧美 日韩 国产 激情| 五月天色婷婷综合| 国产高清精品在线观看| 中文字幕资源在线观看| 精品无码一区二区三区爱欲| 国产免费又粗又猛又爽| 国产欧美123| 免费看国产黄色片| 成年人深夜视频| 亚洲欧洲日本精品| 欧美视频在线观看视频| www.国产视频.com| 日本丰满少妇xxxx| www.51色.com| 丁香啪啪综合成人亚洲| 黄色一级视频播放| 可以免费在线看黄的网站| 9191国产视频| 性chinese极品按摩| 美脚丝袜脚交一区二区| 中文av字幕在线观看| 亚洲 欧美 日韩 国产综合 在线| 久久久久久久久久一区二区| 日本少妇高潮喷水视频| 精品一区二区三区毛片| 亚洲三级视频网站| 成人一区二区免费视频| 1314成人网| www.色就是色| 激情五月宗合网| 日韩成人午夜影院| 亚洲天堂网2018| 黄色片视频在线播放| 阿v天堂2018| 992tv快乐视频| 一级淫片在线观看| 蜜臀视频一区二区三区| 免费看一级大黄情大片| 日本在线视频www色| 九九热精品国产| 91最新在线观看| 超碰网在线观看| 日本欧美黄色片| 800av在线免费观看| 91免费视频黄| 亚洲色图欧美自拍| 精品久久久99| 美女网站视频黄色| 日本精品一区二区三区四区| 热99这里只有精品| 国产九色porny| 日本精品福利视频| 天堂av在线中文| 超碰成人在线免费观看| 在线播放av中文字幕| 污污动漫在线观看| 爱情岛论坛亚洲首页入口章节| 成人综合视频在线| 中国丰满人妻videoshd| 国产乱子伦农村叉叉叉| 福利视频一区二区三区四区| 国产精品国三级国产av| 男女激烈动态图| 看一级黄色录像| 国产91porn| 成人在线免费高清视频| 国产女主播av| 免费高清一区二区三区| 国产乱淫av片杨贵妃| 日本a在线免费观看| 日韩小视频在线播放| 国产女大学生av| 久久美女福利视频| 蜜臀久久99精品久久久酒店新书| 久久久久久久久久久久久国产精品| 国产l精品国产亚洲区久久| 国产精品亚洲αv天堂无码| 欧美视频第三页| 国产福利影院在线观看| 一级黄色录像在线观看| а 天堂 在线| 神马午夜伦理影院| 加勒比成人在线| 国产亚洲天堂网| 欧美三级理论片| 国产视频1区2区3区| 国产91av视频在线观看| 国产1区2区3区中文字幕| 男人的天堂狠狠干| 成人一级片网站| 粉色视频免费看| 日韩不卡一二区| 日本十八禁视频无遮挡| caoporn超碰97| 两性午夜免费视频| 六月婷婷激情综合| 国产福利视频在线播放| 亚洲天堂国产视频| 玖玖精品在线视频| 欧美变态另类刺激| 中文字幕av专区| 中国一级大黄大黄大色毛片| 男的插女的下面视频| 成年人免费大片| 男女啪啪的视频| 男女视频网站在线观看| 天天爽人人爽夜夜爽| 亚洲国产精品女人| 无码aⅴ精品一区二区三区浪潮 | 国产成人手机视频| 天堂在线精品视频| 久久黄色片视频| 一个色综合久久| 国产免费一区二区视频| 国产aaaaa毛片|