Complexity Is A Subsidy

The podcast discusses the economic changes resulting from the COVID-19 pandemic, highlighting the divergence between thriving big businesses and struggling small businesses. It challenges the populist view that corporations simply desire less regulation, arguing that large corporations often benefit from increased regulation due to the higher operating costs creating barriers for smaller competitors. The podcast uses the concept of "bootleggers and Baptists" to illustrate how corporations and populists can inadvertently support the same regulatory goals for different reasons. It also touches on campaign finance reform and Mark Zuckerberg's stance on regulation, suggesting that increased regulation can benefit incumbents and larger players in various industries by making it harder for new entrants to compete.