A majority of Americans think that major technology companies have too much economic power and a growing share think big tech should be more controlled by government regulation, according to a Pew Research Centre study.
“Still, there is not a strong consensus among the public that the government reducing the size of major tech companies would be a good thing”, the Pew said.
56% think big tech should be regulated more than they are now. 68% think they have too much power and influence in the economy. The latest survey represents a statistically significant increase of those who say there should be more regulation, up from 47% in June 2020 and 51% in May 2018, the study said.
“There have been increases in support for more regulation across most of the political spectrum, particularly among liberal Democrats, since this question was last asked in June 2020. (Partisan groupings include independents who lean toward either party.)
The Pew notes in the study that these results come as lawmakers are considering antitrust legislation to weaken major tech companies’ dominance of their markets. President Joe Biden recently signed an executive order supporting actions to promote greater competition in the tech sphere and limit the power of major technology companies.
55% in the survey say that even if major technology companies follow the rules, the government should not allow these companies to grow beyond a certain size because it hurts competition. However, 42% believes the government should allow major technology companies to grow as large as they want as long as these companies follow the rules, even if this means there is less competition.
Asked how they would react if the government would take steps to reduce the size of major technology companies, 37% say that this would be mostly a good thing while 29% say it would mostly be a bad thing and 31% say it would not make much of a difference.