Inflation is Caused by Monopoly Power?
Why would a reputable economist endorse nonsense like this from Mickey Kaus (you know who you are):
If increased concentration lets ”corporations use their growing monopoly power to raise prices” couldn’t that be, you know, inflationary? But Krugman’s spent another trillion pixels lecturing us about how inflation is not a threat. Discuss.
One possible answer, Krugman Derangement Syndrome. [There's more nonsense where that came from, and not just in this article, but I just can't link the Daily Caller in good conscience.]
Posted by Mark Thoma on Wednesday, December 19, 2012 at 09:55 AM in Economics, Inflation, Market Failure |
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