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Market power is a well defined economic concept. I am an economist who works on that issue. If he wants to talk about market power I think that would be gre
by huitzitziltzin 5y ago
Market power is a well defined economic concept. I am an economist who works on that issue. If he wants to talk about market power I think that would be great! (Though not as an explanation for this case.)
Indeed, I said I thought he was ignorant of economics in part bc he brought up this weird “capital as power” thing which has nothing to do (AFAICT) with actual market power as we understand it.
Furthermore, in this particular case I think you get a much better, more direct explanation of Google’s behavior vis-a-vis its acquisition of Motorola via intellectual property and patent litigation than via market power, let alone via “capital as power”.
- guerrilla 5y agoThey seem to be economists too [1] and it seems like he's deferring to them. I haven't read their work but the way Cory presented it makes it sound like it's just basic Machiavellian realism[2] applied to economics and if that's all it is then I'm all in. Is there something specific you didn't like or just that the theory isn't presently popular among economists? What's your alternative story of what happened here? I'm not sure how intellectual property and patent litigation would conflict with what he's saying. 1. https://capitalaspower.com/about/ https://capitalaspower.com/about/ 2. https://iep.utm.edu/polreal/ https://iep.utm.edu/polreal/