People who tend to be worried about inequality are often want to increase the power of government. And i see that is aa hopeless strategy, he says. Government's power is the main method of the wealthy and the powerful to exploit and extract from the rest of us. But if you're thinking of the the gilded age,. then we have a system there where you know, these trusts are so powerful economically they crush any opposition. They ar able to sort of maintain their monopolies at the expense of creating greater entry, greater variety, lower prices for the consumers. So in that case, what you need to do is you need toDo standard enti trust regulation. To be able
Daron Acemoglu, the Elizabeth and James Killian Professor at the Massachusetts Institute of Technology, talks with EconTalk host Russ Roberts about his new paper co-authored with James Robinson, "The Rise and Fall of General Laws of Capitalism," a critique of Thomas Piketty, Karl Marx, and other thinkers who have tried to explain patterns of data as inevitable "laws" without regard to institutions. Acemoglu and Roberts also discuss labor unions, labor markets, and inequality.