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The Great Reversal: How America Gave Up on Free Markets pdf offers a fresh look at what would have otherwise been a jaded topic the author of The Great Reversal: How America Gave Up on Free Markets pdf book draws on a vast knowledge bank of insights and experience to execute this work.

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.

Publisher ‏ : ‎ Belknap Press: An Imprint of Harvard University Press; First Printing edition (October 29, 2019)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 368 pages
ISBN-10 ‏ : ‎ 0674237544
ISBN-13 ‏ : ‎ 978-0674237544
Item Weight ‏ : ‎ 1.55 pounds
Dimensions ‏ : ‎ 6.2 x 1.2 x 9.3 inches

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