84 | Suresh Naidu on Capitalism, Monopsony, and Inequality

84 | Suresh Naidu on Capitalism, Monopsony, and Inequality

Nations generally want their economies to be rich, robust, and growing. But it's also important to person to ensure that wealth doesn't flow only to a few people, but rather that as many people as possible can enjoy the benefits of a healthy economy. As is well known, the best way to balance these interests is a contentious subject. On one side we might find free-market fundamentalists who want to let supply and demand set prices and keep government interference to a minimum, while on the other we might find enthusiasts for very strong government control over all aspects of the economy. Suresh Naidu is an economist who has delved deeply into how economic performance affects and is affected by other notable social factors, from democracy to revolution to slavery. We talk about these, as well as how concentrations of economic power in just a few hands — monopoly and its cousin, monopsony — can distort the best intentions of the free market.

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Suresh Naidu received his Ph.D. in economics from the University of California, Berkeley. He is currently professor of economics and international affairs at Columbia University as well as a fellow at Roosevelt Institute, external faculty at the Santa Fe Institute, and a research fellow at National Bureau of Economic Research. His awards include a Sloan Research Fellowship and the "Best Ph.D. Advisor Award" from the Columbia Association of Graduate Economics Students.


Jaksot(415)

266 | Christoph Adami on How Information Makes Sense of Biology

266 | Christoph Adami on How Information Makes Sense of Biology

Evolution is sometimes described -- not precisely, but with some justification -- as being about the "survival of the fittest." But that idea doesn't work unless there is some way for one generation t...

19 Helmi 20241h 20min

AMA | February 2024

AMA | February 2024

Welcome to the February 2024 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Pa...

12 Helmi 20243h 24min

265 | John Skrentny on How the Economy Mistreats STEM Workers

265 | John Skrentny on How the Economy Mistreats STEM Workers

Universities and their students are constantly being encouraged to produce more graduates majoring in STEM fields -- science, technology, engineering, and mathematics. That's the kind of training that...

5 Helmi 20241h 20min

264 | Sabine Stanley on What's Inside Planets

264 | Sabine Stanley on What's Inside Planets

The radius of the Earth is over 6,000 kilometers, but the deepest we've ever dug below the surface is only about 12 km. Yet we have a quite reliable idea of the structure of the Earth's interior -- in...

29 Tammi 20241h 12min

263 | Chris Quigg on Symmetry and the Birth of the Standard Model

263 | Chris Quigg on Symmetry and the Birth of the Standard Model

Einstein's theory of general relativity is distinguished by its singular simplicity and beauty. The Standard Model of Particle Physics, by contrast, is a bit of a mess. So many particles and interacti...

22 Tammi 20241h 26min

262 | Eric Schwitzgebel on the Weirdness of the World

262 | Eric Schwitzgebel on the Weirdness of the World

Scientists and philosophers sometimes advocate pretty outrageous-sounding ideas about the fundamental nature of reality. (Arguably I have been guilty of this.) It shouldn't be surprising that reality,...

15 Tammi 20241h 20min

261 | Sanjana Curtis on the Origins of the Elements

261 | Sanjana Curtis on the Origins of the Elements

In mid-20th-century cosmology, there was a debate over the origin of the chemical elements. Some thought that they could be produced in the Big Bang, while others argued that they were made inside sta...

8 Tammi 20241h 7min

260 | Ricard Solé on the Space of Cognitions

260 | Ricard Solé on the Space of Cognitions

Octopuses, artificial intelligence, and advanced alien civilizations: for many reasons, it's interesting to contemplate ways of thinking other than whatever it is we humans do. How should we think abo...

1 Tammi 20241h 10min

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