Reliability of Regulating Artificial Intelligence to Restrain Cartelization: A Libertarian Approach

Pedram Matin ()
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Pedram Matin: Hezardastan Group, Tehran, Iran

Asian Journal of Law and Economics, 2021, vol. 12, issue 2, 149-169

Abstract: Competition is building block of any successful economy, while a cartelized economy is against the common good of society. Nowadays, developing artificial intelligence (AI) and its plausibility to foster cartels persuade governments to revitalize their interference in the market and implement new regulations to tackle AI implications. In this sense, as pooling of technologies might enable cartels to impose high prices and violate consumers’ rights, it should be restricted. By contrast, in the libertarian approach, cartels’ impacts are defined by government interference in the market. Accordingly, it is irrational to rely on a monopolized power called government to equilibrate a cartelized market. This article discusses that AI is a part of the market process that should be respected, and a restrictive or protective approach such as the U.S. government Executive Order 13859 is not in line with libertarian thought and can be a ladder to escalate the cartelistic behaviors.

Keywords: AI; cartel; cartelization; competition law; libertarian approach; market process (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1515/ajle-2021-0012

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