# Ep. 510 Brian Albrecht Shows a Flaw in the "Waterbed" Critique of Market Power

Page: https://stenobird.com/podcast/bob-murphy-show-550403/ep-510-brian-albrecht-shows-a-flaw-in-the-waterbed-critique-of-market-power
Text version: https://stenobird.com/podcast/bob-murphy-show-550403/ep-510-brian-albrecht-shows-a-flaw-in-the-waterbed-critique-of-market-power.md
Podcast: [Bob Murphy Show](https://stenobird.com/podcast/bob-murphy-show-550403)
Published: 2026-06-07T13:00:00+00:00
Episode link: https://www.bobmurphyshow.com/ep-510-brian-albrecht-shows-a-flaw-in-the-waterbed-critique-of-market-power
Audio file: https://episodes.captivate.fm/episode/623256fc-34e2-4e28-a96d-ae65fab923eb.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/bob-murphy-show-550403/episodes/ep-510-brian-albrecht-shows-a-flaw-in-the-waterbed-critique-of-market-power
Duration seconds: 3651

## Resource

Economist Brian Albrecht explains his discovery of a surprising--but critical--missing link in a popular argument against market power. Specifically, Brian shows that the standard work in this literature doesn't even allow consumer harm as a possibility of firms merging.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/bob-murphy-show-550403/episodes/ep-510-brian-albrecht-shows-a-flaw-in-the-waterbed-critique-of-market-power/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/bob-murphy-show-550403/ep-510-brian-albrecht-shows-a-flaw-in-the-waterbed-critique-of-market-power.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.