Macro Musings with David Beckworth Brian Albrecht on Business Dynamism, Greedflation, and Antitrust
Feb 3, 2025
Brian Albrecht, chief economist at the International Center for Law & Economics and co-author of Economic Forces, dives into compelling economic discussions. He examines the decline of business dynamism and the rise of 'greedflation,' explaining how market power affects industries today. Albrecht critiques traditional theories on tariffs and urges a reevaluation of their economic impact. He also discusses the Biden administration's antitrust efforts, emphasizing challenges in regulating big tech. A must-listen for insights on modern economic policy!
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Albrecht's Mercatus Connection
- Brian Albrecht's background includes being an Adam Smith fellow at Mercatus during grad school.
- This fellowship significantly shaped his economic thinking and provided valuable training.
Market Power and Dynamism
- Rising market power and declining business dynamism are two significant macroeconomic trends.
- Despite an intuitive link, research reveals a minimal connection, often finding the opposite relationship.
Dynamism Reversal
- Business dynamism has seen a reversal since 2020, rebounding from a 30-year decline.
- This positive trend aligns with other encouraging economic indicators, such as productivity improvements.