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March 1, 2022 at 6:17 pm

Capital Journal quotes 2 economists on whether YouTube, Facebook operate as monopolies

Bethany Lemont, portrait

Dr. Bethany Lemont

The Ohio Capital Journal quotes two Ohio University economists in a story headlined “Survey: Ohio economists disagree on whether YouTube, Facebook operate as monopolies.”

Dr. Bethany Lemont and Dr. Cortney Rodet are assistant professors of Economics in the College of Arts & Sciences.

“There are outlets all over the internet where like-minded individuals congregate and share their thoughts – everything from DIY chat boards, hobby groups, and politically minded groups,” Cort Rodet of Ohio University wrote. “Furthermore, the number of users on specific platforms fluctuates as preferences change. The most obvious example is the shift of younger users from Facebook to TikTok. If strict policies on opinion sharing turn off users, they can and will find a better outlet.”

One economist who agreed that YouTube, Facebook and Twitter are monopolies commented that she only did so because of the way the question was worded.

“I’m interpreting this statement as ‘Facebook operates as a monopoly within the market for Facebook,’” wrote Bethany Lemont, also of Ohio University. “Sure, that’s true, but it’s kind of silly to declare. We don’t say that ‘McDonald’s has a monopoly in the market for McDonald’s.’”

Read more at the Ohio Capital Journal.

Dr. Cortney Rodet, portrait

Dr. Cortney Rodet

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