Thought Jean Tirole very important to learn. He is an influential economist in the 21st century, Jean Tirole of France succeeded to map current economic conditions are characterized by a monopoly by a few or several companies so the cost is very high, or companies that are not productive survived by blocking new companies that more productive. Monopoly cause economic injustice. Monopoly companies will lead to more unemployment also, because new companies are prevented from established by a variety of reasons. His research helps us to understand the current economic situation which is very unfair that lead to monopoly and even setting prices that often do not make sense to digest, on behalf of the monopoly of the market is not able to grow and move dynamically.
Royal Swedish Academy of Science gives him the title of Nobel Prize in Economics in 2014 for his research on the role in analyzing the situation and economic development. His analyses about several large enterprises, market forces and regulation helps us to understand the highly complex modern economy to be able to understand and to find a solution.
When the economy in a state of very unequal, the deregulation of the market is necessary but must be very careful to adopt because they have adapted to the specific conditions than the general regulations such as to limit the price that can have a lot of influence.
The global economy is currently dominated by monopolies more big companies and they have a strong lobby to politicians in the legislature, thus causing the economy is controlled by a few people. The current economic situation can not develop well that there will be a deadly state of the industry so that there is no competition, the market needs to have a lot of competition to be bigger and growing.
The current economic inequality caused the government is not able to create a market regulation, in Western countries, the government is very obedient and confident about the freedom of the market. So they did not dare to intervene in the market, therefore the economic recovery is running very slow and it is very dangerous for the economy in the long run, especially regarding recovery. It is time for the deregulation of the market carried out and look at all aspects to create a market to be balanced and healthy then if not there will be a hard and very long to achieve recovery.
The major employers can control the price in their favor because they want to benefit greatly from each product sold to consumers in this case is the public at large, offered a very high price and the option to get a lower price would be very difficult.