When I was taking labor economic last year, my professor presented a case in class concerning monopsony meeting monopoly and dubbed it, in theory, it’s like King Kong versus Godzilla. I bursted into laughter immediately.
In retropect, I’m not sure whether I laughed because of his figurative presentation, or the truth behind it.
In the real world, the war between a real King Kong and Godzilla has begun; Microsoft versus Google. Of course, none of them are monopsonies but both of them are monopolies. They do hold considerable market power to themselves.
SEATTLE – In a simmering legal tussle, Google Inc. is asking a judge to reject Microsoft’s bid to keep a prized research engineer from taking a job at the Internet search company, saying the software titan filed its lawsuit to frighten other workers from defecting.
Anyway, some sort of climate change agreement between the US and five other Pacific rim nations have been signed prior to ASEAN + 3 + Australia + New Zealand meeting in Laos.
WASHINGTON – The United States and five Asian and Pacific nations, including China and India, agreed Wednesday on a partnership to use cleaner energy technologies in hopes of curtailing climate-changing pollution.
The goal is noble but the problem is, this agreement is non-binding. Because it is non-binding, I suspect there will be freerider problem – which hardly solve Kyoto’s flaw to start with.
With Kyoto, all non-Annex 1 members, including China and India, are not binded to emission reduction and hence, freeriding others’ effort to combat climate change.
