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William J. Royea

William J. Royea

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William J. Royea is Assistant Director for Strategy and Communications at the Joint Center for Artificial Photosynthesis, California Institute of Technology.

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  1. op_eeckhout1_Alex WongGetty Images_bezoslaughing Alex Wong/Getty Images

    Market Power Is Eating the Economy

    Jan Eeckhout

    Today's record-breaking stock-market valuations are largely a reflection of genuine profit-making by a handful of firms that have benefited from new technologies. But those who are currently high on their stock portfolios should know that what's good for business is not always good for the market economy.

    shows how network effects and economies of scale are benefiting dominant firms at the expense of everyone else.
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