Our editor Marian Tupy speaks with economist Brian Albrecht about the role of prices in modern prosperity.

They discuss why price controls fail, whether scarcity can ever truly disappear, the difference between large companies and monopolies, price discrimination, and the underappreciated ways in which competitive markets enrich our lives.

Dr. Brian C. Albrecht is the chief economist at the International Center for Law & Economics and author of the Economic Forces newsletter.