The Profit Paradox (eBook)

How Thriving Firms Threaten the Future of Work

Jan Eeckhout (Autor)

eBook Download: PDF | EPUB

2022
Princeton University Press (Verlag)
9780691241715 (ISBN)

Infos

A pioneering account of the surging global tide of market power-and how it stifles workers around the worldIn an era of technological progress and easy communication, it might seem reasonable to assume that the world's working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power-the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil.The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements-acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these "e;superstar"e; companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility.A provocative investigation into how market power hurts average working people, The Profit Paradox also offers concrete solutions for fixing the problem and restoring a healthy economy.

Produkt-Details

• Erscheint lt. Verlag: 25.10.2022
• Zusatzinfo: 5 b/w illus.
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Schlagworte: Activist shareholder • Advertising • Alstom • Anheuser-Busch InBev • Arsenal of Democracy • asset • barriers to entry • beneficiary • Bill Gates • billionaire • Boeing • Boutique • budweiser • Capital Gain • Capitalism • Captain of industry • Career • Catalog merchant • Clayton Antitrust Act • collusion • Competition • Competition (economics) • Competition Law • consumer • Contradiction • Copyright • cost reduction • Covid-19 • Creative Destruction • Creative Work • Credit (finance) • Customer • Demand For Labor • developed country • dichotomy • disaster • Disruptive innovation • Division of Labour • Durable • Early Adopter • ebay • Economic Development • Economic Growth • Economic Inequality • Economics • economic surplus • economist • economy • Emerging Technologies • Employment • Entrepreneurship • Expenditure • Expense • Externality • Finance • Financial Crisis • first-mover advantage • Furniture • Globalization • graduation rate • grandparent • Great Depression • Great Recession • Gross Domestic Product • Herbert Hoover • herding • Household • Incentive • income • Income earner • income statement • Industry • inefficiency • inference • Inflation • Innovation • International Trade • Intravenous therapy • Investment • Investor • invisible Hand • Job Security • J. P. Morgan • Landlord • language barrier • leapfrogging • lobbying • loophole • Lump sum • Malthusianism • Manufacturing • Market Economy • Market Maker • Market power • Markup (business) • Mass shooting • Melting Pot • Mergers and acquisitions • Microsoft • Money order • Monopoly • motor vehicle • Net Worth • Occupational licensing • organic growth • Overhead (business) • Ownership • parent company • Patent • Patent thicket • percentage • percentile • perfect competition • Politician • Poverty • Prediction • price of oil • Price war • Princeton University Press • Productivity • Profit (economics) • Public Company • Purchase Price • receptionist • Recession • Restaurant rating • Retail • Retirement • Retirement age • Revenue • Robber baron (industrialist) • salary • saving • S corporation • second industrial revolution • security guard • Shareholder • Share Price • Shopping mall • shortage • Slow Food • State supreme court • Statute of Monopolies • Stock Market • stylized fact • Superiority (short story) • Supervisor • Supply and Demand • Supply (economics) • supply-side economics • Tax • Taxis • Tax Rate • Technological Change • Technology • telephone • The Road to Serfdom • Thomas Robert Malthus • Total Cost • Total revenue • Traffic Light • Unemployment • urbanization • Value (economics) • wage • WalMart • Warren Buffett • Wealth • welfare • Welfare cost of inflation • wishful thinking • Workforce • World War II • Writing • year
• ISBN-13: 9780691241715 / 9780691241715