Includes bibliographical references (pages 317-329) and index.
Contents:
An Monopsony power and inequality. Why economists like competition...and why you should too -- Bad concentration, good concentration -- Rise in market power -- Decline of investment and productivity -- Failure of free entry -- Part two. 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. An 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.
Summary:
In this tale of economic detective work, we follow Phillipon 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, the author concludes, government needs to return to what it once did best: keeping the playing field level for competition. --From publisher description.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.