The Biden White House is promoting tougher anti-monopoly laws to curb high U.S. inflation and ease public criticism, but a prominent Democratic economist...
The Biden White House is promoting tougher anti-monopoly laws to curb high U.S. inflation and ease public criticism, but a prominent Democratic economist says it’s fool’s errand.
“There is no basis whatsoever thinking that monopoly power has increased during the past year in which inflation has greatly accelerated,” Summers tweeted. By and large, the current bout of high inflation stems from disruptions in labor markets and supply chains caused by the pandemic.
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