Our group presented upon the matter of policy. We decided to touch upon the Sherman Antitrust Act, Media Consolidation, Vertical Integration, Net Neutrality, News Deserts, and Cord Cutting.
The Sherman Antitrust Act of 1890 was the first measure passed by Congress to prohibit trusts and used the power of Congress to regulate interstate commerce. Trusts dominated a number of major industries and destroyed competition since a company can then start to function as a monopoly. The act also authorized the government to start proceedings against trusts in order to dissolve them and any declaration to form a trust was deemed illegal. Penalties were a $5,000 fine and a possible year in jail. The goal of this act was to restore competition among firms.
News Deserts are a community with limited access to the sort of credible news information that feeds democracy at the grassroots level. This tends to be poor, older, and less educated communities that include very vulnerable citizens.
Media Consolidation is a process where fewer individuals or organizations control increasing shares of the mass media and where small firms dominate the media industry. These firms have complete control of information going out to media sources that plays to the interests of people in power rather than the general public.
Net Neutrality is what keeps the internet free and open to everybody and is the result of keeping private companies from regulating what is seen/heard on the internet.
Cord Cutting is a term for people cancelling their subscription for cable service. Streaming services are coming out and people are starting to lean that way and push older companies out of business. Cord Cutting is occurring in 20% of American homes and will increase to 30% by 2024.
Vertical integration is a supply chain owned by the company where the company is able to control all parts of the supply chain process rather than just one. This allows companies to create their own products entirely and make sure everything goes logistically smooth but reduces competition greatly as a downside in the market.
Overall, these different ideas and acts all contribute to the policy of our nation and the trends in which society and individuals are turning in the future.
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