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)

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297 | Emily Wilson on Homer, Poetry, and Translation

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296 | Brandon Ogbunu on Fitness Seascapes and the Course of Evolution

296 | Brandon Ogbunu on Fitness Seascapes and the Course of Evolution

Biological evolution via natural selection is a simple idea that becomes enormously complicated in its realization. Populations of organisms are driven toward increased "fitness," a measure of how suc...

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295 | Solo: Emergence and Layers of Reality

295 | Solo: Emergence and Layers of Reality

Emergence is a centrally important concept in science and philosophy. Indeed, the existence of higher-level emergent properties helps render the world intelligible to us -- we can sensibly understand ...

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AMA | November 2024

AMA | November 2024

Welcome to the November 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...

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294 | Addy Pross on Dynamics, Stability, and Life

294 | Addy Pross on Dynamics, Stability, and Life

Erwin Schrödinger said that the important characteristic of life is that it "goes on doing something... for a much longer period than we would expect an inanimate piece of matter to keep going under s...

28 Loka 20241h 11min

293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

A large economy is one of the best examples we have of complex dynamics. There are multiple components arranged in complicated overlapping hierarchies, out-of-equilibrium dynamics, nonlinear coupling ...

21 Loka 20241h 11min

292 | Jonathan Birch on Animal Sentience

292 | Jonathan Birch on Animal Sentience

It's not immoral to kick a rock; it is immoral to kick a baby. At what point do we start saying that it is wrong to cause pain to something? This question has less to do with "consciousness" and more ...

14 Loka 20241h 10min

AMA | October 2024

AMA | October 2024

Welcome to the October 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 Pat...

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