The great reversal : how America gave up on free markets /

Saved in:

Bibliographic Details
Author / Creator:	Philippon, Thomas, author.
Imprint:	Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2019.
Description:	1 online resource (xii, 343 pages) : illustrations
Language:	English
Subject:	Free enterprise -- United States. Free enterprise -- Europe. Free enterprise -- Political aspects -- United States. Markets -- United States. Markets -- Europe. Competition -- United States. Competition -- Europe. Lobbying -- United States. Competition Free enterprise Lobbying Markets Europe United States
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13545155

Hidden Bibliographic Details
Varying Form of Title:	How America gave up on free markets
ISBN:	9780674243095 0674243099
Digital file characteristics:	text file
Notes:	Includes bibliographical references and index. Online resource, title from digital title page (viewed on February 23, 2021).
Summary:	"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."--
Other form:	Print version: Philippon, Thomas. Great reversal. Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2019 9780674237544 0674237544

Table of Contents:

The rise of market power in the United States. Why economists like competition ... and why you should too
Bad concentration, good concentration
The rise in market power
The decline of investment and productivity
The failure of free entry
The European experience. Meanwhile, in Europe
Are US prices too high?
How European markets became free
Political economy. Lobbying
Money and politics
In depth look at some industries. Why are bankers paid so much?
American health care : a self-made disaster
Looking at the stars : are the top firms really different?
To regulate or not to regulate, that is the question
Monopsony power and inequality.

The great reversal : how America gave up on free markets /

Similar Items