Googles Dominance Of The Digital World - 1096 Words

Google is undoubtedly one of the biggest companies of our time. The company’s search engine has become so popular that we don’t look up things on the Internet anymore, we ‘google’ them. The company’s conquest of the digital business world has led some to argue it’s not just an ordinary company anymore, but rather a monopoly. But what are monopolies and is Google a digital monopoly? If so, should regulators try to find a way to limit them? This guide will look at whether we should be worried about Google’s dominance in the digital world and why it might not be one of the world’s most invincible companies. What is a monopoly? Before we look into the evidence of Google as a monopoly, it is important to understand what a monopoly is. The word is often used in the media, but not always in its proper meaning. In its essence a monopoly is a situation in which only a single company or group has the ownership of nearly all or all of the market for the given product or service. Therefore, a monopoly is a situation where competition is absent. In a strict academic sense the extreme case of capitalism is characterised as a market containing a single operator. Such situation often results in increased prices and even inferior products as the group has no competition in the market. Because of this, monopolies are tightly controlled in the modern world and therefore the strict definition of monopoly is highly unlikely in the modern world. If a single company would control aShow MoreRelatedThe European Parliament s Quest For Limit Its Market Control1365 Words   |  6 PagesPerhaps the most critical approach to Google’s position has been the European Parliament’s quest to limit its market control. The company, which controls over 90% of searches in many European countries, has faced a number of legal challenges from the European Parliament in recent years. 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