Monopolies using their market power to suppress competition and raise prices pose a genuine threat to GDP growth. They can hurt it as much as poor economic policy, says Professor Jonathan B. Baker from the American University Washington College of Law.
Critics believe that the internet is mostly used to promote low culture but thanks to the digital revolution culture is experiencing a revival,” says Professor Joel Waldfogel, economist at the University of Minnesota.
Most countries of Western Europe used various types of austerity programs aimed at reducing the budget deficit in order to get out of economic trouble. Professor Alberto Alesina, an economist from Harvard University, examined which of these measures worked best.