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Hail to the Chief of Facebook

Capitalisn't

CHAPTER

Facebook Is Not Just a Monopoly

I think if you're a monopoly and you have a lot of power in a market, then you can shirk your social responsibilities. We see all the digital platform with that characteristic is what we economists call network externalities. And very often it's not even guaranteed that the platform that comes out as the winner is the best. It simply is what everybody else is using.

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