The Exercise of Market Power Probably Contributes to Economy-Wide Inequality

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Publication Date

March 2017


The article is written by ProMarket writers.In this installment of ProMarket’s new interview series on concentration in the U.S., American University law professor Jonathan Baker shares some thoughts on marker power and bigness. “In some of their major markets, large IT firms are likely insulated from competition.” Does America have a concentration problem? On March 27-29, the Stigler Center will host a first-of-its-kind, three-day conference in Chicago that will focus on this very question.The conference will bring together dozens of top academics from law, economics, history, and political science, policymakers, journalists, and public intellectuals, including two keynote speakers: Margrethe Vestager, the European Commissioner for Competition, and Judge Richard A. Posner of the U.S. Court of Appeals for the 7th Circuit in Chicago and the University of Chicago Law School.Ahead of this conference, we decided to present influential scholars and intellectuals with some questions on concentration, market power, and bigness—and their potential effects on the U.S. economy.

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