Thomas Philippon – The Great Reversal

This much-Anticipated book: A leading economist claims that many of America’s key problems are not due to the failures of capitalism or inevitabilities globalization, but to the concentration corporate power. File size: 275.40 MB

Thomas Philippon – The Great Reversal

This much-In his anticipated book, a prominent economist argues that the key problems facing the American economy are not caused by the flaws in capitalism or the inevitable consequences of globalization. Instead, they are due to the concentration of corporate control. Lobbying against competition allows the largest firms to drive profits higher, while depressing wages, limiting investment opportunities, innovation, growth, and limiting their potential for growth.
What is the purpose of cell?-Why are phone plans so expensive in the United States compared to Europe? This seems like a straightforward question. The search for the answer was not easy. Thomas Philippon On an unexpected journey through some the most complex and controversial issues in modern economics. He came to a surprising conclusion: American markets are losing healthy competition, once the model for the rest of the world. Every sector of the economy is now more concentrated than twenty years ago. It is dominated by smaller and larger players who lobby politicians to expand and protect their profit margins. This causes higher prices across the country while driving down productivity, growth and wages. Meanwhile, Europe―long dismissed for competitive sclerosis and weak antitrust―is beating America at its own game.

Philippon, one of the world’s leading economists, did not expect these conclusions in the age of Silicon Valley start-Millionaires of the millennial generation and ups But his data-Edge research was a fact. This compelling tale of economic detectivework follows him as he uncovers the facts and consequences industry concentration in America and Europe. We also see how lobbying and campaign contributions have undermined antitrust regulators. And finally, we consider what all of this means for free and open trade, technology, innovation. He concludes that government must return to what it used to do best, which is to keep the competition level. It’s time to make American markets great―and free―again.