Regulation and Antitrust

From A&P in the 1920s to Sears Roebuck & Co. in the 1980s to Walmart in the 2000s—and now to Amazon—large, innovative retail companies are regularly subject to calls for break-ups. But the economy will lose if populism eventually triumphs.

Section 230 of the Communications Decency Act has quickly transformed from an obscure law known mostly to tech policy experts to a regular feature in public debates and policy discussions. What is this brief, 25-year-old law making headlines, and how could reforming or repealing it impact our daily lives?

Extending liability beyond sellers to include the digital platforms they use to reach consumers would undercut the viability of many online marketplaces while doing very little to improve product safety. It would only leave consumers worse off in the long run.

In 1888, a political activist and author named Edward Bellamy published a classic book titled Looking Backward 2000-1887, in which he pictured a future—our present time—when technology companies administered the regulatory state would ensure people live in peaceful abundance. Today’s populists, including some top regulators, have revived Bellamy’s dystopian view.