I see my job as trying to understand what is going on in the world of economics and finance, mainly by reading the research of others, and communicating it as best I can to others. It’s a privilege of my … Continued
Consider the following list of political facts: high and rising income inequality; a perception that global market forces are leaving local people powerless; anti-immigrant feelings; blaming banks and monopolistic corporations; a perception that politics is dominated by the rich; anxiety … Continued
A new theme in explaining slow growth and productivity and rising inequality: greater monopoly power in the US. * I’ve been thinking about my forthcoming teaching for the Cambridge Advanced Leadership Programme in June, which is always an interesting session, … Continued
Economics students learn early in their microeconomics course that there is a desirable market condition called perfect competition, which consists of large numbers of more or less identical firms competing aggressively to meet the customer’s wants. The competition is so … Continued