 The main theme of this Schoenman lecture was market power in the new economy. There are lots of concerns about increased markups, about winner-take-all. We see lots of quasi-monopolies, GAFA, for example, and we wonder what to do with them. So there's a lot of European regulation in the making trying to curb market power, make sure that the monopoly segments are contestable so that more efficient entrants can enter those markets. They're also trying to make sure that merchants' apps are getting their fair share of the deal and getting a good access to the platform. And the work of economists is really to think about new ways of regulating the platforms while keeping the innovation going, and that's of course very important. So this research is really about regulating the digital markets, which actually is a little bit complicated because we need new frameworks. So for example, nowadays we have lots of zero prices, what I call the zero or bound. We as consumers get lots of wonderful services for free. Of course there's a catch because the other side of the market is paying a lot, the advertisers or merchants. But also the apps themselves often charge zero because they are making money elsewhere. And this is a new economy which gives rise to new features in terms of antitrust, and we have to think about that. Second part of the lecture was about the currency war between cryptocurrencies, the price money, and also the CBDCs, and try to think about whether this new technology, which is wonderful, blockchain and the like, can actually deliver for the common good. Because we see with cryptocurrencies that it's not always the case that the new technologies actually put at the service of the common good, rather than tax evasion, money laundering and the like. So we need to make use of the new technology and try to improve our welfare in the process.