The Great Reversal
- 书名:The Great Reversal
- 作者: Thomas Philippon
- 格式:PDF
- 时间:2024-06-30
- 评分:
- ISBN:9780674237544
In this much-anticipated book, a leading economist argues that many key problems of the American economy are due not to the flaws of capitalism or the inevitabilities of 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.
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 Thomas Philippon on an unexpected journey through some of the most complex and hotly debated issues in modern economics. Ultimately he reached his surprising conclusion: American markets, once a model for the world, are giving up on healthy competition. Sector after economic sector is more concentrated than it was twenty years ago, dominated by fewer and bigger players who lobby politicians aggressively to protect and expand their profit margins. Across the country, this drives up prices while driving down investment, productivity, growth, and wages, resulting in more inequality. 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-ups and millennial millionaires. But the data from his cutting-edge research proved undeniable. In this compelling tale of economic detective work, we follow him as he works out the basic facts and consequences of industry concentration in the U.S. and Europe, shows how lobbying and campaign contributions have defanged antitrust regulators, and considers what all this means for free trade, technology, and innovation. For the sake of ordinary Americans, he concludes, government needs to return to what it once did best: keeping the playing field level for competition. It’s time to make American markets great―and free―again.
Thomas Philippon is Professor of Finance at the Stern School of Business, New York University, and sits on the Monetary Policy Advisory Panel of the Federal Reserve Bank of New York. He is Scientific Committee Director and a Board Member of the French Prudential Regulator (ACPR), charged with preserving the stability of the French financial system, and previously served as Seni...
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SuSo11-29一篇JEP被你扩写成一本书,厉害厉害...
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拌苔食09-19audiobook听完的。作为科普畅销读物写得很好,尤其是把market concentration的几个假设检验的过程写出来了,是个挺好的研究设计教学范例。读估计会觉得废话有点多,听的话倒正好。
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庄常飞07-14其实一篇文章就能说清楚,而且非常多generalization
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