00:01
Hey everyone, today we're solving problem number four from chapter 11 of the textbook, which asks us, with this era of globalization and increased communication, would you expect anti -trust policies and authorities to become broader and scope or narrower scope? so just to explain what globalization is, it's the increased connectedness of our world through different ideas, people, and places.
00:27
Those are the big three ideas, people, and places.
00:30
And it's interconnecting our world.
00:33
Greater communication, technology is all helping speed that up, and it's pretty amazing.
00:38
So that's just a bit of an idea of globalization, and you can look at the word global.
00:43
And i would say that you would expect it to become broader in scope.
00:56
And the reason why is because there's going to be more competition in our increasingly globalized world.
01:09
And not just competition, from the united states, europe, and the western world.
01:16
Rather, it's competition from every single corner in every single part of this world, which i think is pretty good.
01:25
Obviously, everyone has their opinions on globalization and how to make it effective, but regardless, globalization will create and foster more competition from everywhere, even far away places.
01:53
So that's the big idea here, i believe, that it will become broader.
01:58
However, there is an exception.
02:01
So one thing to note about the fact that it's broader, just because antitrust authorities become broader and their more leniency, they cannot lose their tight grip on monopolies and preventing monopolies.
02:27
Still needs to be strict, essentially, or stern in nature.
02:30
I think strict is better.
02:33
Supportage...