Where there is a high rate of return on investment with old technology without any threat of competition, monopolistic incumbents have little reason to improve their networks and/or product offerings.
Alex Marshall Coming to Humphrey School at U of Minnesota
Six months ago, I wrote about a book by Alex Marshall, the Surprising Design of Market Economies. In a few weeks, he will be presenting to a small group at the Humphrey School of Public Affairs at the University of Minnesota. You can learn more about the event and register here.
I am looking forward to this - Thursday, October 24, at Freeman Commons in the Humphrey School on the West Bank campus. 11:30 - 1:00.
In a thesis that has implications for policy wonks, economists and planners of all types, Marshall shows how government creates the essential institutions necessary for economic life, and how the typical debate between those who value the market and those who value government regulation is a false one. Marshall, a Senior Fellow at the Regional Plan Association in New York, is the author of two other books on urban planning, and is a former newspaper reporter. He was also a Loeb Fellow at Harvard University. His work has been published in many places, including The New York Times Magazine, Bloomberg View and The Washington Post.