Google’s growth threatens economic stability and “hundreds of thousands of jobs” according to a new report.

If the authorities do not act, says Scott Cleland, president of technology communications research and consulting firm, Precursor, a swath of a trillion dollar sector with millions of jobs such as video, maps, books, analytics and travel will suffer the same fate as the music and newspaper industries.

He cites an example: "When Google rebrands its current YouTube-Double-Click video advertising business as 'Google TV', it already will own an internet video-streaming monopoly with 80% of the internet audience, almost a billion viewers, two billion daily monetised views, and 45 billion ads served daily."

In his report Googleopoly VI Seeing the Big Picture, Cleland urges the US Department of Justice to intervene. “There is no net-economic growth or job creation from Google's 'free' internet sector model, only a deflationary price spiral, negative growth, property devaluation and hundreds of thousands of job losses in over 20 industries,” says Cleland.

He adds that Google's access to the data on the internet poses a variety of security and privacy concerns.