The Power of Economics Versus the Economics of Power

摘要

Aside from discussion in microeconomics of monopolies, economics textbook rarely mention power. Does it simply not exist? If it is discussed at all, it is always said to be a function of asymmetric information. This economist argues that economists have to explore power much more profoundly and free of ill-founded free-market assumptions.rnNot long ago, I attended an economics conference at which almost all the participants were very market friendly. Their papers were thoughtful and, within limits, made a great deal of sense. I was pleasantly surprised to learn that the presenters were unusually open to exchanges with people whose ideas differed from their own.