During the day Carl Lundgren may seem like just another economist working for the federal government. But in his free time–when he’s not toiling for the Department of Labor’s mine safety and health administration–Lundgren has another line of work. He turns economic theories into inventions.
Perhaps his most important invention so far is his method for compensating top executives in oligopolistic industries. Devised in the 1980s, this method would encourage competition, rather than collusion, among oligopoly firms.
