Economics
The Limits of Private Action: What the Past 40 Years Taught Us About the Perils of Unregulated Markets
The two big ideas that animated American public policy since the end of World War II, employer-sponsored social benefits and neoliberalism, are failures. We...
The Elephant in the Market Power Debate
Profits are the ultimate sign of market power. But for the past 40 years, economists and antitrust practitioners have disparaged the measurement of profit...
Why the FTC Should Focus on Labor Monopsony
Economic theory tells us that firms are more likely to exploit labor market power than product market power in the United States today. And...
Marx and Modern Microeconomics
Few economists doubt that Marx flunked economics, a judgement mostly based on his labor theory of value. But this column argues that Marx’s representation...
Top5itis: The Disease that Affects Economics
Top5itis is a disease that currently affects the economics discipline. It refers to the obsession of the profession of academic economists with the so-called...
