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.


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72 | César Hidalgo on Information in Societies, Economies, and the Universe

72 | César Hidalgo on Information in Societies, Economies, and the Universe

Maxwell's Demon is a famous thought experiment in which a mischievous imp uses knowledge of the velocities of gas molecules in a box to decrease the entropy of the gas, which could then be used to do ...

11 Nov 20191h 16min

71 | Philip Goff on Consciousness Everywhere

71 | Philip Goff on Consciousness Everywhere

The human brain contains roughly 85 billion neurons, wired together in an extraordinarily complex network of interconnected parts. It's hardly surprising that we don't understand the mind and how it w...

4 Nov 20191h 34min

70 | Katie Mack on How the Universe Will End

70 | Katie Mack on How the Universe Will End

Cosmologists are always talking excitedly about the Big Bang and all the cool stuff that happened in the 14 billion years between then and now. But what about the future? We don't know for sure, but w...

28 Okt 20191h 23min

69 | Cory Doctorow on Technology, Monopoly, and the Future of the Internet

69 | Cory Doctorow on Technology, Monopoly, and the Future of the Internet

Like so many technological innovations, the internet is something that burst on the scene and pervaded human life well before we had time to sit down and think through how something like that should w...

21 Okt 20191h 17min

68 | Melanie Mitchell on Artificial Intelligence and the Challenge of Common Sense

68 | Melanie Mitchell on Artificial Intelligence and the Challenge of Common Sense

Artificial intelligence is better than humans at playing chess or go, but still has trouble holding a conversation or driving a car. A simple way to think about the discrepancy is through the lens of ...

14 Okt 20191h 22min

67 | Kate Jeffery on Entropy, Complexity, and Evolution

67 | Kate Jeffery on Entropy, Complexity, and Evolution

Our observable universe started out in a highly non-generic state, one of very low entropy, and disorderliness has been growing ever since. How, then, can we account for the appearance of complex syst...

7 Okt 20191h 12min

66 | Will Wilkinson on Partisan Polarization and the Urban/Rural Divide

66 | Will Wilkinson on Partisan Polarization and the Urban/Rural Divide

The idea of "red states" and "blue states" burst on the scene during the 2000 U.S. Presidential elections, and has a been a staple of political commentary ever since. But it's become increasingly clea...

30 Sep 20191h 52min

65 | Michael Mann on Why Our Climate Is Changing and How We Know

65 | Michael Mann on Why Our Climate Is Changing and How We Know

We had our fun last week, exploring how progress in renewable energy and electric vehicles may help us combat encroaching climate change. This week we're being a bit more hard-nosed, taking a look at ...

23 Sep 20191h 17min

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