The Great Reversal
How America Gave Up on Free Markets
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Narrated by:
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Walter Dixon
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By:
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Thomas Philippon
About this listen
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.
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- By David on 03-20-23
By: Ryan Cooper
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Red Flags
- Why Xi's China Is in Jeopardy
- By: George Magnus
- Narrated by: Derek Perkins
- Length: 9 hrs and 59 mins
- Unabridged
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Over the past four decades, China's remarkable transformation has garnered admiration but also sparked concern. George Magnus draws on his intimate knowledge of this dynamic nation to uncover the origins of its ascent and show why the economic traps it faces at home and the political challenges it faces abroad pose a serious threat to its continued rise.
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A pessimistic vision with western liberal bias
- By Jeronimo L. Jimenez on 10-23-20
By: George Magnus
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Dead Aid
- Why Aid Is Not Working and How There Is a Better Way for Africa
- By: Dambisa Moyo, Niall Ferguson - foreword
- Narrated by: Mike Chamberlain
- Length: 6 hrs and 29 mins
- Unabridged
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A national best-seller, Dead Aid unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth. In fact, poverty levels continue to escalate and growth rates have steadily declined - and millions continue to suffer. Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Dambisa Moyo offers a bold new road map for financing the development of the world's poorest countries.
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Dangerous / Right Wing US view
- By David O'Donovan on 03-05-19
By: Dambisa Moyo, and others
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China's Economy
- What Everyone Needs to Know®
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- Narrated by: Paul Heitsch
- Length: 11 hrs and 31 mins
- Unabridged
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China's Economy: What Everyone Needs to Know® is a concise introduction to the most astonishing economic growth story of the last three decades. In the 1980s, China was an impoverished backwater, struggling to escape the political turmoil and economic mismanagement of the Mao era. Today it is the world's second biggest economy, the largest manufacturing and trading nation, the consumer of half the world's steel and coal, the biggest source of international tourists, and one of the most influential investors in developing countries from southeast Asia to Africa to Latin America.
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An interesting insight
- By Cole Peters on 11-28-18
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Globalization and Its Discontents
- By: Joseph E. Stiglitz
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- Length: 10 hrs and 33 mins
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This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national best-seller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank.
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Plea
- By Asma on 10-13-20
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The Impulse Society
- America in the Age of Instant Gratification
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Paul Robert digs down to the economic roots of the problem, shows how it has metastisized to affect every facet of our lives and our ability to navigate the future. In clear, cogent prose that mixes illuminating analysis and vibrant reporting, Roberts not only tells the fascinating story of how the impulse society came to be, but shows how, perhaps, a healthier society may still be possible.
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A Must-Listen for Millenials
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50 Economics Classics
- Your Shortcut to the Most Important Ideas on Capitalism, Finance, and the Global Economy
- By: Tom Butler-Bowdon
- Narrated by: John Chancer
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Economics drives the modern world and shapes our lives, but few of us feel we have time to engage with the breadth of ideas in the subject. 50 Economics Classics is the smart person's guide to two centuries of discussion of finance, capitalism, and the global economy. From Adam Smith's Wealth of Nations to Thomas Piketty's best-seller Capital in the Twenty-First Century, here are the great books and seminal ideas, clarified and illuminated for all.
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Creating a Learning Society
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It has long been recognized that most standard of living increases are associated with advances in technology, not the accumulation of capital. Yet it has also become clear that what truly separates developed from less developed countries is not just a gap in resources or output but a gap in knowledge. In fact the pace at which developing countries grow is largely determined by the pace at which they close that gap. Therefore, how countries learn and become more productive is key to understanding how they grow and develop, especially over the long term.
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tecnico pero vale la pena
- By Anonymous User on 01-27-19
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The Economics of Inequality
- By: Thomas Piketty, Arthur Goldhammer - translator
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- Length: 4 hrs and 41 mins
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Succinct, accessible, and authoritative, Thomas Piketty’s The Economics of Inequality is the ideal place to start for those who want to understand the fundamental issues at the heart of one the most pressing concerns in contemporary economics and politics. This work now appears in English for the first time.
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A Survey of the Economics of Inequality
- By Darwin8u on 12-19-16
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Supercapitalism
- The Transformation of Business, Democracy, and Everyday Life
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Since the 1970s, and notwithstanding three recessions, the U.S. economy has soared. American capitalism has been a triumph, and it has spread throughout the world. At the same time, argues the former U.S. secretary of labor, Robert B. Reich, the effectiveness of democracy in America has declined. It has grown less responsive to the citizenry, and people are feeling more and more helpless as a result.
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Robert Reich for V.P. (of the U.S.)
- By Horace on 11-07-07
By: Robert B. Reich
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Building the New American Economy
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With a nation seemingly more divided than ever, many worry that Americans risk losing ground on solving the complex, interrelated problems the country faces - including rising inequality, the specter of climate change, astronomical health care costs, and economic stagnation. The renowned economist Jeffrey D. Sachs offers a practical approach to move America toward a new consensus: sustainable development.
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If only....
- By Baboo TH on 01-24-18
By: Jeffrey D. Sachs, and others
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What listeners say about The Great Reversal
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Philip Savva
- 04-30-20
Perfect
I know the corporate predator is taking my money, but how can I prove it...
This fact layout, easily understood in this SUPER book are indisputable examples of how it's done. No stone is left unturned. Under each stone is clear explanations, so well written. If there is an answer from the oligarchy it will not stand.
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- Anna
- 01-15-20
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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1 person found this helpful
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- Joshua Wilson
- 01-07-20
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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3 people found this helpful
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- Ricardo Ernst
- 02-07-20
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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2 people found this helpful
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- Matt Creech
- 06-12-20
Surprisingly interesting take on modern US markets
I started this book with relatively low expectations, since a) I didn't like the narrator's voice (quite "robotic"), b) it relied too heavily on figures & equations (which I couldn't see since I was listening while driving), and c) the "free markets are best" sort of talk struck me as overly ideological. But although the narration style didn't grow on me, the content did: the data & trends presented are interesting regardless of your ideology, and although the author's conclusions are sometimes a bit thin or simplistic (e.g. in response to the increasing impact of lobbying), they at least form a starting point for real discussion grounded in a more fact-based understanding of what the real trends have been.
Not terribly practical in terms of actionable advice. But for those trying to improve their mental models around modern US or European economics, the impact of regulations and policy decisions, and the overall place that the US markets hold on the world stage, it's a good read.
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2 people found this helpful
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- Stephanie
- 02-19-20
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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1 person found this helpful
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- Jack Ruskin
- 04-09-23
Brilliant
A data driven case is made that completion in the US s declining, and a factual analysis of how much this costs consumers and the economy. With detailed recommendations, the book is extremely valuable.
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- Decimus
- 01-01-20
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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- Garrett S
- 02-27-20
very informative and thought provoking
Heavily based on academic research, this book was very interesting and relevant for policy decisions.
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- Anonymous User
- 09-24-21
Good economics
As a recently graduated economist, I have found this one of the more insightful economics books I have ever read.
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