Ever wonder why those unskippable ads on your streaming service are getting worse? Or how a market sprang up in a WWII POW camp? It all comes back to the middleman. I dive into why brokers are essential for markets to thrive, and how they've evolved from mere facilitators to powerful gatekeepers. Discover the surprising truth behind why markets need brokers, and when they become a problem you can't ignore.
5 Public Policy problems in an Intangible Economy
I talk about the 5 public policy problems that will arise in an Intangible economy.
Book Review of “We, the Citizens”
I review the book, “We, The People”. This is an audacious attempt to simplify complex public policy topics in a comic book format.
Using Deadly Laws as a Proxy for Social Change
I argue why deadly laws cannot be a proxy for social change.
How Elite Imitation Affects Public Policy
In a previous newsletter on marketing fallacies, I argued how we’re prone to the Apex Fallacy the most. It’s widespread because some companies do indeed beat the conventional wisdom and win big. We see it unfolding right in front of us. And, we risk being seen as too soft when we appear skeptical about its... Continue Reading →
The Market for Lemons
Why do people prefer buying used cars from a dealer rather than a private seller? Especially when people know they must pay a premium for dealer’s commission charges over and above the car’s selling price. This is the issue American economist George Akerlof addressed at length in his paper, “The Market for Lemons”. The paper... Continue Reading →
How Social Media Changed Politics
I analyze how social media has changed politics and political campaigns. I argue that while social media has enhanced the freedom of expression, it has also created ideological echo-chambers. I borrow ideas from Jonathan Haidt, Neil Postman and Richard Hanania to build my case.
Why Firms Are Important
I explore why firms continue to be important in the gig era. Many ask: Why hire employees when you can get the work done by vendors? I respond: If this were such a cost-effective way of getting quality work done, why isn’t this more widespread? I borrow from Ronald Coase’s “The Nature of the Firm” to seek answers.
The Medium is the Metaphor
I explore why writing is fundamentally different from the video-audio format. To this end, I borrow extensively from Neil Postman’s works, particularly, “Amusing Ourselves to Death”. I argue, with examples, why the medium is the metaphor.
How AI impacts Copyright Laws
AI is coming for us. It has already come for celebrities and institutions. Consider these three instances. Case #1: In May 2024, ChatGPT launched an AI voice assistant that sounded like a human. It ended up upsetting actress Scarlett Johansson. Why? The voice sounded eerily similar to her own. In defense, OpenAI claimed it was... Continue Reading →
Musings by Madhav 