Ep8 "Why Capitalism Works" with John Cochrane
All Else Equal: Making Better Decisions
00:00
Free Market Economics - Is There Too Much Competition?
John cochran is one of the prominent free market economists of our time. He says that when there are particular parties that get excessive rents, it is often not because there is too much competition. And so encouraging competition can make sure that excess rents are not being earned by particular parties. John: Free markets is not a pro business ah stants. It's actually very revolutionary to existing businesses. The taxi monopolies hated uper and they still do. But we get better rides, and people get better opportunities to work. With competition, course, comes in equality. Caus competition implies winners and loses. Do we have to have that inequality? Yes.
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