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Bob Murphy Show - Brian Albrecht Shows a Flaw in the "Waterbed" Critique of Market Power
Published 5 days, 10 hours ago
Description
Economist Brian Albrecht explains his discovery of a surprising--but critical--missing link in a popular argument against market power. Specifically, Brian shows that the standard work in this literature doesn't even allow consumer harm as a possibility of firms merging.
Mentioned in the Episode and Other Links of Interest:
- The YouTube version of this episode.
- Albrecht's paper on the weakness in the waterbed argument. His substack (with Josh Hendrickson).
- Bob's past discussion with Brian. Bob's interview of Eric Weinstein.
- This episode’s sponsor, the free Plan-B guide from ExPatMoney.
- Help support the Bob Murphy Show.