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The Profit Paradox - How Thriving Firms Threaten the Future of Work (Hardcover)
Loot Price: R590
Discovery Miles 5 900
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The Profit Paradox - How Thriving Firms Threaten the Future of Work (Hardcover)
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Loot Price R590
Discovery Miles 5 900
Expected to ship within 12 - 17 working days
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A pioneering account of the surging global tide of market power-and
how it stifles workers around the world In an era of technological
progress and easy communication, it might seem reasonable to assume
that the world's working people have never had it so good. But
wages are stagnant and prices are rising, so that everything from a
bottle of beer to a prosthetic hip costs more. Economist Jan
Eeckhout shows how this is due to a small number of companies
exploiting an unbridled rise in market power-the ability to set
prices higher than they could in a properly functioning competitive
marketplace. Drawing on his own groundbreaking research and telling
the stories of common workers throughout, he demonstrates how
market power has suffocated the world of work, and how, without
better mechanisms to ensure competition, it could lead to
disastrous market corrections and political turmoil. The Profit
Paradox describes how, over the past forty years, a handful of
companies have reaped most of the rewards of technological
advancements-acquiring rivals, securing huge profits, and creating
brutally unequal outcomes for workers. Instead of passing on the
benefits of better technologies to consumers through lower prices,
these "superstar" companies leverage new technologies to charge
even higher prices. The consequences are already immense, from
unnecessarily high prices for virtually everything, to fewer
startups that can compete, to rising inequality and stagnating
wages for most workers, to severely limited social mobility. A
provocative investigation into how market power hurts average
working people, The Profit Paradox also offers concrete solutions
for fixing the problem and restoring a healthy economy.
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