This weekend’s Willy Rant was about how America is becoming ever more concentrated in its economy. Monopoly not just thrives but expands and the economic rents from that explain all that ails the colonial cousins.
The problem with this being that there’s not an ounce of truth to it:
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Except the latest research demonstrates the reverse is true. Britain is about to make a vast mistake. In the recently published The Great Reversal, leading economist Thomas Philippon of New York University and member of the advisory panel of the New York Federal Reserve, mounts a devastating attack on the conventional wisdom, so perfectly embodied by the witless Boris Johnson.