It’s always good to be ahead of the power curve. I see that the eminent Paul Krugman had an editorial in the New York Times about the very issues that I’ve dealt with in this blog, his example in this case being Amazon. This is just one of many articles that have been raised about the monopsony power as a result of the Hatchette controversy. In The New Republic Franklin Foer also addresses this issue at length in the article “Amazon Must Be Stopped.” In my last post on this topic I discussed public monopsony, an area in which I have a great deal of expertise. But those of us in the information world that are not Microsoft, Oracle, Google, or one of the other giants also live in the world of private monopsony.
(more…)microeconomics
Family Affair — Part II — The Micro and Managerial Economics of Projects under Public Monopsony
In my last post I summarized by the macroeconomic environment in which we operate and delved into some discussion of microeconomic foundations. The response was positive if lukewarm overall, but ego-boosting is not why I started a blog. One of my readers once asked why I don’t take on some hot button issues. Well that’s not my role or area of expertise. I’m not a politician or a social commentator. The community I inhabit has a large impact but is relatively small and mostly consists of engineers, scientists, mathematicians, some policy-makers, thought leaders, and other technically-focused professionals. I’m not trying to stir up emotions. I’m out to stimulate discussion and thought. I’m relieved that I don’t get trolls when posting factual information that goes against popular misconceptions. They are a waste of time.
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Life, Project Management, and Everything 