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OPINION: Tech Monopolies Encourage Research & Innovation

By Sky News at 12:24 PM 5/31/2020 (PDT)

The CSTD committee is engaged in a heated debate on the regulations that need to be placed on technological monopolies. However, if monopolies are overly restricted by governmental policies, does that take away its power in encouraging research and innovation?

The delegate of Japan began this conversation in a moderated caucus and pointed out that tech monopolies can initiate great change that only smaller businesses could dream of. With a large bank account, monopolies have the capabilities of greatly benefiting the overall society. It is clear that monopolies are highly beneficial and only require minimal restrictions, as their control is key in the benefits they bring about. The delegate of Iran agreed and shared how, with high profit, monopolies can specialize in certain research and innovation. Many other delegates agreed, including the delegate of Pakistan who claimed that monopolies are able to make large technological advancements with their immense funding and power. Overall, this allows for a large financial boost and strengthening of the economy.

Furthermore, the delegate of Cuba listed additional benefits of monopolies that wouldn’t be present with strict restrictions on power. These include funding high-cost capitalist projects and the avoidance of a duplication in services. Moreover, the friendly competition between Apple and Google indeed urges the other to innovate and make incredible advancements.

Reporters were specifically excited to hear the perspective of the delegate of the US, as the American nation is the home to several renowned monopolies. We were happy to hear that the US agrees in the perspective of moderate regulations to still allow monopolies to thrive. The American delegate began by declaring how Google was able to achieve the installation of fiber optic cables in Uganda, something small businesses could only imagine. The US delegate strongly voiced his disapproval of breaking up monopolies in an attempt to limit its power. He claimed, “Keeping the monopolies large allows them to bring benefits for the people.”

However, some delegates have voiced their concern on how the “friendly” competition that was mentioned prior is indeed unethical. The delegate of Kenya claimed that the competition among monopolies slows the rate of innovation, and doesn’t encourage research, instead it urges unfair rivalry. Instead of using their colossal profits for research and technological advancements, the delegate declared that tech monopolies simply hog the money. While this was a unique perspective, reporters are eager to witness what the previous delegates will do to take action in accomplishing a balance that allows for monopolies to retain their power while satisfying consumers.

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