CB: In general, I think of bankers wanting high interest rates for the
obvious reason that it is the price of money ( which they "sell" in
loans). I think they are this much "in your face" at one level, but I can
see that this simple profitmaking would be contradicted by other factors
Jim Devine wrote:
Monopoly power encourages inflationary persistence,
as when inflation
continued in the face of the early 1970s recession (that's just the
clearest case). However, the US economy has become much more competitive
during the last 20 years.
Interesting contrast with the
Specter
My casual impression is that the US economy has and is becoming more
concentrated. What's yours?
it depends on one's time frame. Compared to the "good old daze" of the
1950s 1960s, the US economy is currently less monopolistic, not only due
to globalization but also deregulation of
The airlines are highly concentrated. Deregulation caused a temporary dip in
concentration which has now been overcome. They fix prices
oligopolistically.
Jim Devine wrote:
My casual impression is that the US economy has and is becoming more
concentrated. What's yours?
it depends on
