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The great reversal : how America gave up on free markets

Author: Thomas Philippon
Publisher: Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2019. ©2019
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"American markets, once a model for the world, are giving up on competition. Thomas Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by investing and innovating, powerful firms use political pressure to secure their advantages. The result is less efficient markets, leading to higher prices and lower wages"--
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Document Type: Book
All Authors / Contributors: Thomas Philippon
ISBN: 9780674237544 0674237544
OCLC Number: 1090006344
Description: xii, 343 pages : illustrations ; 25 cm
Contents: Part one. The rise of market power in the U.S.: 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 --
Part two. The European experience: Meanwhile, in Europe --
Are US prices too high? --
How European markets became free --
Part three. Political economy: Lobbying --
Money and politics --
Part four. 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 --
Conclusion.
Responsibility: Thomas Philippon.

Abstract:

American markets, once a model for the world, are giving up on competition. Thomas Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by investing and  Read more...

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