Podcasts Business Non-Profit Macro Musings with David Beckworth 80 Karl Smith on Market Power, the Great Variation, and Choices for Fed Chair

80 Karl Smith on Market Power, the Great Variation, and Choices for Fed Chair

Published: Oct. 23, 2017, 10:29 a.m.

Karl Smith is the director of economic research at the Niskanen Center. He joins the show to discuss his thoughts on increasing market power (the ability of firms to influence prices) in the United States. Karl argues that this is at least partially due to what he calls the \u201cGreat Variation,\u201d the desire many Americans have had for more individualized consumer goods since the 1960s. Finally, Karl also shares his thoughts on some of President Trump\u2019s choices for Federal Reserve chair. David\u2019s blog: macromarketmusings.blogspot.com/ Macro Musings podcast site: macromusings.com David\u2019s Twitter: @DavidBeckworth Karl Smith\u2019s Niskanen profile: https://niskanencenter.org/blog/staff/chief-economist/ Karl Smith\u2019s Twitter: @karlbykarlsmith \u201cModeled Behavior\u201d: https://www.forbes.com/sites/modeledbehavior/#661385b4a824 Related links: \u201cMark-Ups and Market Power\u201d by Karl Smith https://niskanencenter.org/blog/markups-market-power/ \u201cThe Great Variation\u201d by Karl Smith https://niskanencenter.org/blog/notes/the-great-variation/ https://niskanencenter.org/blog/notes/just-say-no-kevin-warsh/