#125 Sam Levey: Monopoly, Monopsony, And What To Do About Them

Patricia and Christian talk to economics scholar, teacher and writer Sam Levey about real existing economic conditions (containing monopoly, monopsony, and oligopolistic price-setting power), the inadequate models used by economists to interpret these conditions, and a better way forward.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Sam Levey: https://www.patreon.com/posts/43189679   Buffer Stocks: A Better Diagram, by Sam Levey: https://slevey087.medium.com/buffer-stocks-a-simpler-diagram-a462e9ea5359   Monopoly Money: The State as a Price Setter by Pavlina R. Tcherneva: http://moslereconomics.com/wp-content/uploads/2018/04/Tcherneva_MonopolyMoney_2002.pdf Monopoly Money Redux by Sam Levey: https://medium.com/@slevey087/monopoly-money-redux-a4d96f156f7   Our episodes laying out the MMT Job Guarantee: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543   Modern Money and the War Treasury, by Sam Levey: http://www.global-isp.org/working-paper-no-123/   Our episodes about Modern Money and the War Treasury: Episode 32 - Sam Levey: How Uncle Sam Paid For World War II (part 1): https://www.patreon.com/posts/30005574 Episode 33 - Sam Levey: How Uncle Sam Paid For World War II (part 2): https://www.patreon.com/posts/30112818   For information on their forthcoming MMT book, sign up to the Gower Initiative For Modern Money Studies mailing list: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   Transcript for opening monologue: https://www.patreon.com/posts/61954919   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes: https://www.patreon.com/posts/61954971