Hello again to the second part of this episode of ESAIP's Global Economy podcast with

Orelian-Produce on competition and competition policy.

In the first part of this episode, we talked about

principles of competition policy and the linkage between competition and innovation. Now we

want to focus on current affairs and talk about recent efforts of policymakers to regulate digital

companies, especially large online platforms.

And we want to discuss the EU's recently proposed Digital Markets Act.

And let's look at Europe in addition to what's often called in expert lingo ex-post competition policy enforcement,

there are now new proposals for new legal tools to regulate what exactly large digital companies do.

And some of these proposals may soon become a reality not only in the EU but also in the US.

There are a few proposals that are similar to, for example, the digital market sector in the EU.

And the digital market sector, the DNA, when you look at it, it's full of conflicting,

objective, very vague descriptions of concept and also conflicting concepts of fairness for example contestability

which are which seem to be put at the center by innovation consumer protection

seem to enjoy a much lower priority which can be expected based also on what you just said.

So Fairnex, for example, it's referred to 88 times in the TMA proposal.

Contestability is mentioned 60 times.

Innovation in consumers each refer to 16 times.

But none of these terms is defined clearly once.

None of these terms. And on top of this, the type of contact that the EU, the European Commission in particular,

wants to regulate so-called core platform services are also very fully defined.

So if I were a manager, let's say, at Amazon or Facebook or whatever this or platform,

...