The Great Reversal: How America Gave Up on Free Markets Audiobook (Free)

Why are cellphone plans a lot more expensive in america than in Europe? It seems a simple question. But the search for an answer had taken Thomas Philippon on an urgent journey through a few of the most complicated and hotly debated problems in contemporary economics. Eventually, he reached a unexpected bottom line: American marketplaces, once a model for the globe, are giving up on healthy competition. Sector after economic sector is even more concentrated than it had been twenty years ago, dominated by fewer about THE FANTASTIC Reversal: How America QUIT on Free Marketplaces and bigger players who lobby politicians aggressively to safeguard and increase their profit margins. Across the country, this drives up prices while traveling down investment, efficiency, growth, and wages, resulting in more inequality. In the mean time, Europe-long dismissed for competitive sclerosis and vulnerable antitrust-is beating America at its own game. Philippon, among the world’s leading monetary economists, didn’t expect these conclusions in age Silicon Valley start-ups and millennial millionaires. But the data from his cutting-edge analysis proved undeniable. Within this convincing tale of economic detective work, we adhere to him as he computes the basic details and implications of industry concentration in the U.S. and Europe, shows how lobbying and advertising campaign contributions have defanged antitrust regulators, and considers what all this means for free of charge trade, technology, and advancement. For the sake of ordinary People in america, he concludes, federal government needs to return to what it once did greatest: keeping the playing field level for competition.