Brian Albrecht
@BrianCAlbrecht
Chief Economist @LawEconCenter. Antitrust and price theory. 📝Price Theory Newsletter https://www.economicforces.xyz
Will AI skyrocket inequality? Everyone has wild predictions, but let's use actual economic theory. The Katz-Murphy framework gives us a systematic way to think about which effects matter most. Spoiler: Wages adjust. People adapt. economicforces.xyz/p/will-ai-skyr…
In which @ATabarrok utterly destroys the Zephyr Teachout op-ed on grocery prices: marginalrevolution.com/marginalrevolu…
Yesterday, @Marian_L_Tupy and @PeterBoettke published an excellent op-ed in @WSJopinion making a simple but powerful point: AI can’t replace markets ⚖️🤖 🔗 wsj.com/opinion/algori… One of the most misguided ideas I’ve seen in the past decade is that central planning is (or soon…
Michael Pettis, again in FT, ignoring how prices adjust. Pro-tip: Write down a model. Check your equilibrium conditions. 🧵 of what happens when you don't
Housing is such a great example of the power of basic economics. Vitally important. It’s going to be a central example in my book on price theory
Econ profs: if you're teaching intermediate micro, housing is a great topic for digging into the fundamentals. (link below)
Econ profs: if you're teaching intermediate micro, housing is a great topic for digging into the fundamentals. (link below)
who could blame the Utah senator? These fakers really nailed the seal of the "Elerebal Reserve Oedo of Goveryaeb"
Lee just now re why he posted it: “There appeared to be one, and it occurred to me seconds after I posted it that I hadn’t seen it anywhere else, so I deleted it out of an abundance of caution. I don’t know whether it’s legit or not.”
In 2012, my coauthors and I published an article* asking, “Has the Fed been a Failure,” that is, had it failed to meet its promise? The answer was “Yes.” I’m confident we proved it. I’m also confident that any substitute the Trump administration comes up with will be even worse.
🚨 BREAKING: Treasury Secretary Scott Bessent demands a THOROUGH REVIEW of the "ENTIRE Federal Reserve System." YES. Audit the Fed. "All these PhDs over there, I don't know what they do!" "What we need to do is examine the entire Federal Reserve institution, and whether they…
Would Americans be better off without Costco? Zephyr Teachout says yes. I say no. marginalrevolution.com/marginalrevolu…