Transnational Assessment of Promise and Perils of Technological Advancements: Anti-Trust Perspective

Abstract

Technological advancements have significantly transformed global economies, playing a pivotal role in driving economic growth and increasing productivity. This paper explores the promise and perils of these advancements, particularly from an anti-trust perspective. Drawing from various economic theories, such as Solow’s Growth Model, Endogenous Growth Theory, and Schumpeter’s “creative destruction,” the paper investigates how technology fosters economic development by creating new industries, increasing efficiency, and promoting innovation. However, the disruptive nature of technological progress also poses challenges, such as job displacement, income inequality, cybersecurity risks, and threats to market competition. This paper provides a transnational assessment of the impact of technological advancements on market competitiveness, focusing on how digital platforms and automation are reshaping traditional economic models. It examines regulatory responses in different jurisdictions, including the U.S., EU, and India, highlighting both the opportunities and challenges that technology-driven economies face in maintaining competitive and equitable markets.