From the New World cover image

Arnold Kling: How Economics Starts with Specialization

From the New World

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The Consequences of Concentration

I think with semiconductor that's also particularly unstable, I mean, I've had a bit of personal experience around this. But suppose there is a new iPhone for a year and a half while somebody's figuring out how to build a mass produced chip plant. We can live with that. People use their old iPhones for a while. Yeah,. That's fair. The scary words are, I'm from the government, I'm here to help. Right? So, okay, it's changed. You don't care a lot about or you care relatively less about the things you consume because there are just a lot of them and they're very diffuse. And so, what would you recommend as

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