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The Great Reversal - How America Gave Up on Free Markets (Paperback)
Loot Price: R427
Discovery Miles 4 270
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The Great Reversal - How America Gave Up on Free Markets (Paperback)
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Loot Price R427
Discovery Miles 4 270
Expected to ship within 12 - 17 working days
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A Financial Times Book of the Year A ProMarket Book of the Year
"Superbly argued and important...Donald Trump is in so many ways a
product of the defective capitalism described in The Great
Reversal. What the U.S. needs, instead, is another Teddy Roosevelt
and his energetic trust-busting. Is that still imaginable? All
believers in the virtues of competitive capitalism must hope so."
-Martin Wolf, Financial Times "In one industry after another...a
few companies have grown so large that they have the power to keep
prices high and wages low. It's great for those corporations-and
bad for almost everyone else." -David Leonhardt, New York Times
"Argues that the United States has much to gain by reforming how
domestic markets work but also much to regain-a vitality that has
been lost since the Reagan years...His analysis points to one way
of making America great again: restoring our free-market
competitiveness." -Arthur Herman, Wall Street Journal Why are
cell-phone plans so much more expensive in the United States than
in Europe? It seems a simple question, but the search for an answer
took one of the world's leading economists on an unexpected journey
through some of the most hotly debated issues in his field. He
reached a surprising conclusion: American markets, once a model for
the world, are giving up on healthy competition. In the age of
Silicon Valley start-ups and millennial millionaires, he hardly
expected this. But the data from his cutting-edge research proved
undeniable. In this compelling tale of economic detective work, we
follow Thomas Philippon as he works out the facts and consequences
of industry concentration, shows how lobbying and campaign
contributions have defanged antitrust regulators, and considers
what all this means. Philippon argues that many key problems of the
American economy are due not to the flaws of capitalism or
globalization but to the concentration of corporate power. By
lobbying against competition, the biggest firms drive profits
higher while depressing wages and limiting opportunities for
investment, innovation, and growth. For the sake of ordinary
Americans, he concludes, government needs to get back to what it
once did best: keeping the playing field level for competition.
It's time to make American markets great-and free-again.
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