On last Monday's Daily Show, Jon Stewart interviewed Lina Khan, who chairs the Federal Trade Commission (FTC). She talked about the use of anti-trust laws against monopolies. And after listening to the interview, I have a few more questions for her.Question 1Speaking of the dangers of monopolies and large companies you said,I think it just shows one of the dangers … [Read more...] about A few questions for Lina Khan
Economics
Burning Down Twitter
Elon Musk may have been kicking employees out of Twitter to reduce operating costs, but it's possible he couldn't have destroyed more of Twitter's value if he'd burned down headquarters.Let me explain...It’s common to use the word “capital” to mean money, as in capitalizing a corporation, but to an economist, capital refers basically to tools. That is, capital goods are … [Read more...] about Burning Down Twitter
Inflation or Productivity Loss?
I'm seeing a lot of online chatter about inflation lately, and naturally the commentary has the stink of politics on it. Republicans are trying to pin the price increases on Biden and the Democrats. The Democrats, in turn, are trying to minimize the problem by denying that the inflation is as bad as it seems -- currently 6.8% ((CPI-U, all items, per the December 10 BLS … [Read more...] about Inflation or Productivity Loss?
We Don’t Need a Stimulus
I admit I haven't been closely following the progress of Biden's pandemic stimulus bill in Congress, because the back-and-forth arguments exceeded my tolerance for tedium. Nevertheless, I don't think a stimulus is what we need.Let me start by saying that what we need most from a pandemic relief bill is things that make the pandemic stop. More vaccine, more PPE, more … [Read more...] about We Don’t Need a Stimulus
Doing Something About Tuition Debt
Democratic presidential candidate Elizabeth Warren has a plan to deal with tuition loan debt: My plan for broad student debt cancellation will:Cancel debt for more than 95% of the nearly 45 million Americans with student loan debt; Wipe out student loan debt entirely for more than 75% of the Americans with that debt; Substantially increase wealth for Black and … [Read more...] about Doing Something About Tuition Debt