The Temptation of Centralized Solutions
Russ and Don discuss the universal impulse to turn to directed and controlled solutions for improvement, but caution against yielding to that temptation. They highlight the challenges faced by large firms in staying innovative and the natural sclerosis that occurs as they grow. They also emphasize the dangers of relying on the political process for solutions, as it tends to favor the powerful and organized over the less powerful and consumers.In this clip
From this podcast
EconTalk
Don Boudreaux on Market Failure, Government Failure and the Economics of Antitrust Regulation
Related Questions
Are monopolies stifling true market innovation as discussed in the episode Michael Munger on Antitrust and the clip Antitrust Trade-offs?
Are monopolies stifling true market innovation as discussed in the episode Michael Munger on Antitrust and the clip The Monopoly Debate?
Are monopolies stifling true market innovation as discussed in the episode Chris Brightman Discusses the Investment Industry and the clip Monopoly Profits Explained, as well as in the episode Michael Munger on Antitrust and the clip The Monopoly Debate?