LGM Podcast: Market Power, the Regulatory State, and Expert Capital
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On the latest LGM Podcast, Dan speaks with Abe Newman about market power, regulation, and the functioning of the international economy. There’s plenty here that folks interested in the concept of Weaponized Interdependence will find useful. I’d also advise taking a look at a Foreign Policy piece that Abe and Dan wrote last year on the same subject.
Even with slowing growth, China’s market will remain a powerful force in international affairs. The Chinese internal retail market has already overtaken, or will soon overtake, that of the United States. But even the fact of such comparisons underscores the degree to which the U.S. market—clocking in at roughly $5.5 trillion this year—remains large and lucrative. The United States, however, is becoming less effective at using its market power to pursue crucial policy goals. Washington has, particularly under Republican leadership, degraded the regulatory infrastructure necessary to make the most of that market power. The result is that, in too many areas, Washington is starting to punch below its weight.
There’s also a great deal of discussion about expert capital, regulation, and how the United States and others have handled the COVID-19 crisis.
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