Very thoughtful (2-fer) review. Thank you Bill Janeway! Spurs all kinds of questions about remedies. Anti-trust seems like an excellent place to start, but regulating conduct rather than breaking up the behemoths seems like the way to go. And who will lead? I think its much more likely a transnational European effort will have more bite than a US led effort -- even though the companies are US based. Or could, irony or ironies, authoritarian regime in their quest to suppress as the most effective counterweights? Lots Knightian uncertainty here!
Nearly three months after Russia launched its invasion, Western countries appear more committed than ever to Ukraine’s defense, and, in some quarters, to Russia’s defeat. We asked PS commentators what outcome the West, Russia, and Ukrainians themselves can realistically expect.
While some economic indicators suggest that the recovery remains on track, others show that consumers may be stalling out, and that households and businesses are becoming increasingly pessimistic. The US Federal Reserve will have to respond more nimbly to economic softening than it did to strengthening in 2021.
urges the Federal Reserve to keep its options open as it tries to restore price stability.