{"product_id":"the-myth-of-capitalism","title":"The Myth of Capitalism","description":"\u003cp\u003e\tPraise for The Myth \u003ci\u003eof \u003c\/i\u003eCapitalism \u003c\/p\u003e\u003cp\u003e“‘Capitalism without competition is not capitalism,’ writes Jonathan Tepper in \u003ci\u003eThe Myth of Capitalism. \u003c\/i\u003eHe is right. After decades when most economists dismissed antitrust actions as superfluous so long as consumers were not the victims of price-gouging, we are slowly waking up to the reality that monopoly capitalism is back — and it can be harmful even if its core products (as in the case of Google and Facebook) are free. But it’s not just Big Tech that’s killing competition. As Tepper shows in this engagingly written polemic, there’s also excessive concentration in air travel, banking, beef, beer, health insurance, Internet access, and even the funeral industry. If you want to understand the real cause of rising inequality, discard Piketty and read Tepper instead. This is a tract for the times with a rare bipartisan appeal.”\u003cbr\u003e —\u003cb\u003eNiall Ferguson, \u003c\/b\u003eMilbank Family Senior Fellow, the Hoover Institution, Stanford, and author of  \u003ci\u003eThe Ascent of Money\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e“Tepper and Hearn have written an impressive and important book, documenting via their own research and that of many scholars, the very substantial increase in concentration on the supply side of US industry, leading to a decline in competition and a substantial shift in market and political power away from consumers and labor and toward the owners of capital. The consequences extend to rising inequality, slowing productivity growth, and shifts in the pattern of regulation in favor of corporations. Pieces of these growth patterns have been described before. But this book uniquely pulls it all together. One hopes that it will have the impact that it clearly deserves.”\u003cbr\u003e —\u003cb\u003eMichael Spence, \u003c\/b\u003eEconomics professor at Stern School of Business NYU, Nobel Prize in Economics (2001) \u003c\/p\u003e\u003cp\u003e“What’s wrong with American capitalism today? Why is it so good for the elite, and so bad for everyone else? Is inequality the problem? Tepper and Hearn make the case that inequality is the symptom, not the disease. The problem is too little competition, not too much. They provide an immensely readable and persuasive account, superbly well-informed by a mass of recent data and research.”\u003cbr\u003e —\u003cb\u003eSir Angus Deaton, \u003c\/b\u003ePrinceton University, Nobel Prize in Economics (2015) \u003c\/p\u003e\u003cp\u003e“A broad-ranging and deeply-researched analysis of the inexorable growth of monopolies and oligopolies over the past four decades. Tepper makes a compelling case that the government’s failure to rein in tech titans and other corporate behemoths is at the root of perhaps the most troubling macroeconomic trends of our time, including rising inequality and slowing productivity. Clear and highly accessible, the book takes no prisoners, arguing that monopolists’ funding and sloppy thinking has corrupted every aspect of the system, from politicians to regulators to academics.”\u003cbr\u003e —\u003cb\u003eKenneth Rogoff, \u003c\/b\u003eThomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University, author of the bestselling book, \u003ci\u003eThis Time is Different\u003c\/i\u003e\u003c\/p\u003e","brand":"Denise Hearn","offers":[{"title":"Default Title","offer_id":42856647262269,"sku":"9781394184064","price":33.26,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0597\/7689\/2989\/files\/9781394184064_3ede0a5b-9fd3-41e2-8674-bb4328ba9b04.jpg?v=1766993419","url":"https:\/\/www.palmleaf.com.au\/products\/the-myth-of-capitalism","provider":"Palmleaf","version":"1.0","type":"link"}