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PS. In Theory: The Rise of Monopsony

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In the last few decades, a growing number of industries have become dominated by a handful of firms, and wages, growth, and inflation have remained stubbornly low, while inequality has risen sharply. This is not a coincidence.

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  1. guriev24_ Peter KovalevTASS via Getty Images_putin broadcast Peter Kovalev/TASS via Getty Images

    Putin’s Meaningless Coup

    Sergei Guriev

    The message of Vladimir Putin’s call in his recent state-of-the-nation speech for a constitutional overhaul is not that the Russian regime is going to be transformed; it isn’t. Rather, the message is that Putin knows his regime is on the wrong side of history – and he is dead set on keeping it there.

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