ABSTRACT
The chapter notes how a general mood of trust and optimism about big tech firms has come under increased scrutiny. It places this current situation in a broader context dating back to the Reagan-Thatcher era and revolutionary changes in the relationship between the democratic state and the capitalist “free” market. This involved a resurgence in classical economic thought spearheaded by Milton Friedman and other Chicago School economists. The chapter then introduces Weberian notions of rational legal-political authority and democracy emphasizing large-scale organization, technical-expert knowledge, and bureaucracy as core features of the modern world. The book’s perspective is characterized by a Pragmatist-Webern outlook, much in the tradition of C. Wright Mills. The chapter then places the 21st century in context by first introducing the concept of a knowledge society and highlights the government, military, space, and university complex that nurtured the scientific and technological advancements upon which big tech has capitalized. Next, it examines the truly global reach of corporations, which are engaged in high stakes competition to win global markets, including China. It notes how the US has taken a back seat to regulating big tech over the past few decades, while the European Commission has moved to the fore.
