Conversations with Tyler Jason Furman on Productivity, Competition, and Growth
Aug 26, 2020
In a dynamic discussion, Jason Furman, a Harvard professor and former chair of the Council of Economic Advisors, shares his unique insights on economic policy. He tackles the impact of monopolies on investment patterns and highlights his top strategies to boost American productivity. Furman also critiques place-based development policies and the challenges tech giants like Facebook pose. From humorous college anecdotes to the intricacies of privacy legislation, his engaging perspective on economics offers both depth and entertainment.
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Sluggish Investment
- US business investment has been sluggish due to multiple factors.
- One significant factor is increased market concentration and monopoly power in certain industries, reducing investment incentives.
Market Power and Investment
- Increased market concentration correlates with investment shortfalls in specific sectors, like hospitals.
- However, tech, while dominated by a few firms, sees substantial investment, complicating the market power narrative.
Productivity Slowdown
- Pinpointing the exact cause of the productivity slowdown after 1973 or in recent years is challenging.
- Factors such as decreased public investment and increased market concentration play a minor role.
