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The Great Reversal

How America Gave Up on Free Markets
Lu par : Walter Dixon
Durée : 10 h et 1 min

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Description

Why are cellphone 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 a 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 20 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 financial 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 US 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.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2019 Dreamscape Media, LLC (P)2019 Dreamscape Media, LLC

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  • Global
    4 out of 5 stars
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    5 out of 5 stars
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    5 out of 5 stars
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  • Ash
  • 29/11/2019

Eye-opening, but better as a book - a must-READ

This was a surprising and very insightful listen, but like Piketty’s “Capital in the 21st Century,” it features detailed analyses and visualizations to support the author’s arguments. As such, an audiobook is not the ideal medium for this story. It’s rather hard to follow along, especially when I’m listening while on my commute. I recommend this book to anyone, but in actual book or even ebook format.

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  • Global
    5 out of 5 stars
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    5 out of 5 stars
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  • Joshua Wilson
  • 07/01/2020

Technical at first but worth the read

The first third of this is extremely technical and pretty far over my head but it’s worth Pushing through. The book as a whole is extremely valuable.

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    5 out of 5 stars
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  • G. Swanburg
  • 27/02/2020

very informative and thought provoking

Heavily based on academic research, this book was very interesting and relevant for policy decisions.

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    5 out of 5 stars
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  • Stephanie
  • 19/02/2020

Great analysis with supporting information

I suggest printing off the companion PDF. I plan to view it closer on my 2nd pass through. A lot of great competitive theories worked through.

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  • Ricardo Ernst
  • 07/02/2020

An interesting lecture!

The content is fantastic. You will learn a lot and definitely understand The Great Reversal.... and How America gave up on Free Markets. The only problem is the use of too many references to equations and tables you cannot "see" while listening (if you read while running or driving). Still, even after all the "narration" of the different equations, the content comes across loud and clear.

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    5 out of 5 stars
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  • Kindle Customer
  • 15/01/2020

superb analysis of the US move toward monopolies

very convincing, well presented economic analysis of how and why the US slid to excessive concentration of economic activity during the last 20 years and must return to healthy competition and free entry.

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  • Global
    5 out of 5 stars
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  • Decimus
  • 01/01/2020

Great insights on capitalism

Must read, if you love competition and capitalism. Provides many great insights, e.g., high corporate profits may not be a good sign for the rest of the economy.

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  • Brad
  • 05/12/2019

Excellent

An excellent and important book. Looking for an explanation on why the US economy has created more inequality and less productivity in the past 40 year Philippon process at least part of the answer.

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