Mark Koyama - How Can Monopoly Lead To Shipwreck?

Alex speaks with Mark Koyama about the historical context and economic implications of the Manila Galleon trade, focusing on how monopolistic practices increased the risk of shipwrecks and the broader lessons for contemporary economics about the unintended consequences of monopoly power. References "Shipwrecked by Rents: The Manila Galleon Trade" by Mark Koyama, Desiderio Desideri, and Fernando ArteagaLink: https://www.sciencedirect.com/science/article/abs/pii/S0304387823001967  "The Wealth of Nations" by Adam SmithLink: https://www.amazon.ca/Wealth-Nations-Adam-Smith/dp/1505577128 "Institutions, Institutional Change and Economic Performance" by Douglass C. NorthLink: https://www.amazon.ca/Institutions-Institutional-Change-Economic-Performance/dp/0521397340 "An Inquiry into the Nature and Causes of the Wealth of Nations" by Adam SmithLink: https://www.amazon.ca/Inquiry-Nature-Causes-Wealth-Nations/dp/1494465227 "The East India Company: A History" by Philip LawsonLink: https://www.amazon.ca/East-India-Company-Philip-Lawson/dp/0582490522 "Empire: How Britain Made the Modern World" by Niall FergusonLink: https://www.amazon.ca/Empire-How-Britain-Made-Modern/dp/0141007540 "The Rise and Fall of the Spanish Empire" by William MaltbyLink: https://www.amazon.ca/Rise-Fall-Spanish-Empire-Maltby/dp/1405844874