Monopolies and Anti-Competitive Markets: Crash Course Economics #25
What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible
economic practice in which giant corporations dominate markets and hurt consumers.
Except when it isn't. In some industries, monopolies are the most efficient way to do
business. Utilities like electricity, water, and broadband internet access are probably less
efficiently delivered in competitive markets. Come along, and let us monopolize your
attention for a few minutes. You might learn something. And you might land on Free
Sat 2 Oct, 2021 08:55 pm
To Collude, or Not to Collude: The Economics Behind Collusion Explained in One Minute.
People tend to imagine an evil scenario whenever coming across the term "collusion" and... well,
rightfully so, in a way (although the negative connotation is not universally accepted, with let's
say libertarians having nothing against the idea/freedom of colluding).
But what does collusion actually mean and what are the economics behind it?
In just one minute and forty-two seconds, this video explains how exactly individuals and/or
You will find out, through an example which should leave little room for interpretation, what the
incentives associated with collusion are, incentive many players consider compelling enough for
collusion to make sense despite the fact that in most Western jurisdiction, this practice violates
Finally, it's ultimately your right to decide for yourself whether collusion is good, bad or
anywhere in-between. Like many topics associated with economics, controversy is widespread,
even among those who are let's say pro-competition. For example, a right-leaning voter who
does however believe in some state involvement might be against collusion, whereas a
libertarian who believes in limitless freedom might state that if market participants choose to
collude, it's their prerogative.
Sat 2 Oct, 2021 09:17 pm
What Happened to Organized Labor? | Robert Reich
Former Secretary of Labor Robert Reich breaks down the massive shift in worker bargaining
power that has enabled corporations to concentrate their wealth and shaft working people at
Ask yourself how, during a global pandemic, in the worst economy since the Great Depression,
the total net worth of U.S. billionaires has climbed from $2.9 trillion to $3.5 trillion.
It’s no accident.
We must rebalance the power of workers and corporations to create an economy and a
democracy that works for all, not just a privileged few.