01 / prediction
In the same context of that phenomenal increase in productivity and per capita GDP, the population had multiplied sevenfold over the preceding 200 years. So basically, in economics, that means you get increasing returns, and the presence of increasing returns implies the existence of monopolies, concentrated structures, and according to traditional neoclassical economic theory, the presence of monopolies and concentrated structures is not a good thing.
“In the same context of that phenomenal increase in productivity and per capita GDP, the population had multiplied sevenfold over the preceding 200 years. So basically, in economics, that means you get increasing returns, and the presence of increasing returns implies the existence of monopolies, concentrated structures, and according to traditional neoclassical economic theory, the presence of monopolies and concentrated structures is not a good thing.”
- Speaker
- Javier Milei
- Publisher
- Lex Fridman Podcast