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Monopolies in America : Empire Builders and Their Enemies from Jay Gould to Bill Gates by Charles R. Geisst
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The Great Reversal: How America Gave Up on Free Markets
Thomas Philippon - 2019
By lobbying against competition, the biggest firms drive profits higher while depressing wages and limiting opportunities for investment, innovation, and growth.Why are cell-phone 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 his 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 twenty 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 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 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, he concludes, government needs to return to what it once did best: keeping the playing field level for competition. It's time to make American markets great--and free--again.
The Curse of Bigness: Antitrust in the New Gilded Age
Tim Wu - 2018
But concern over what Louis Brandeis called the "curse of bigness" can no longer remain the province of specialist lawyers and economists, for it has spilled over into policy and politics, even threatening democracy itself. History suggests that tolerance of inequality and failing to control excessive corporate power may prompt the rise of populism, nationalism, extremist politicians, and fascist regimes. In short, as Wu warns, we are in grave danger of repeating the signature errors of the twentieth century.In The Curse of Bigness, Columbia professor Tim Wu tells of how figures like Brandeis and Theodore Roosevelt first confronted the democratic threats posed by the great trusts of the Gilded Age--but the lessons of the Progressive Era were forgotten in the last 40 years. He calls for recovering the lost tenets of the trustbusting age as part of a broader revival of American progressive ideas as we confront the fallout of persistent and extreme economic inequality.
Unequal Democracy: The Political Economy of the New Gilded Age
Larry M. Bartels - 2008
Larry Bartels shows the gap between the rich and poor has increased greatly under Republican administrations and decreased slightly under Democrats, leaving America grossly unequal. This is not simply the result of economic forces, but the product of broad-reaching policy choices in a political system dominated by partisan ideologies and the interests of the wealthy.Bartels demonstrates that elected officials respond to the views of affluent constituents but ignore the views of poor people. He shows that Republican presidents in particular have consistently produced much less income growth for middle-class and working-poor families than for affluent families, greatly increasing inequality. He provides revealing case studies of key policy shifts contributing to inequality, including the massive Bush tax cuts of 2001 and 2003 and the erosion of the minimum wage. Finally, he challenges conventional explanations for why many voters seem to vote against their own economic interests, contending that working-class voters have not been lured into the Republican camp by "values issues" like abortion and gay marriage, as commonly believed, but that Republican presidents have been remarkably successful in timing income growth to cater to short-sighted voters.Unequal Democracy is social science at its very best. It provides a deep and searching analysis of the political causes and consequences of America's growing income gap, and a sobering assessment of the capacity of the American political system to live up to its democratic ideals.
Wages of Rebellion: The Moral Imperative of Revolt
Chris Hedges - 2015
We are again riding the crest of a revolutionary epic, much like 1848 or 1917, from the Arab Spring to movements against austerity in Greece to the Occupy movement. In Wages of Rebellion, Chris Hedges—who has chronicled the malaise and sickness of a society in terminal moral decline in his books Empire of Illusion and Death of the Liberal Class—investigates what social and psychological factors cause revolution, rebellion, and resistance. Drawing on an ambitious overview of prominent philosophers, historians, and literary figures he shows not only the harbingers of a coming crisis but also the nascent seeds of rebellion. Hedges' message is clear: popular uprisings in the United States and around the world are inevitable in the face of environmental destruction and wealth polarization.Focusing on the stories of rebels from around the world and throughout history, Hedges investigates what it takes to be a rebel in modern times. Utilizing the work of Reinhold Niebuhr, Hedges describes the motivation that guides the actions of rebels as “sublime madness” — the state of passion that causes the rebel to engage in an unavailing fight against overwhelmingly powerful and oppressive forces. For Hedges, resistance is carried out not for its success, but as a moral imperative that affirms life. Those who rise up against the odds will be those endowed with this “sublime madness.”From South African activists who dedicated their lives to ending apartheid, to contemporary anti-fracking protests in Alberta, Canada, to whistleblowers in pursuit of transparency, Wages of Rebellion shows the cost of a life committed to speaking the truth and demanding justice. Hedges has penned an indispensable guide to rebellion.
Life Inc.: How the World Became a Corporation and How to Take it Back
Douglas Rushkoff - 2009
Indeed, as Rushkoff shows, most Americans have so willingly adopted the values of corporations that they’re no longer even aware of it.This fascinating journey, from the late Middle Ages to today, reveals the roots of our debacle. From the founding of the first chartered monopoly to the branding of the self; from the invention of central currency to the privatization of banking; from the birth of the modern, self-interested individual to his exploitation through the false ideal of the single-family home; from the Victorian Great Exhibition to the solipsism of MySpace–the corporation has infiltrated all aspects of our daily lives. Life Inc. exposes why we see our homes as investments rather than places to live, our 401(k) plans as the ultimate measure of success, and the Internet as just another place to do business.Most of all, Life Inc. shows how the current financial crisis is actually an opportunity to reverse this six-hundred-year-old trend and to begin to create, invest, and transact directly rather than outsource all this activity to institutions that exist solely for their own sakes. Corporatism didn’t evolve naturally. The landscape on which we are living–the operating system on which we are now running our social software–was invented by people, sold to us as a better way of life, supported by myths, and ultimately allowed to develop into a self-sustaining reality. It is a map that has replaced the territory. Rushkoff illuminates both how we’ve become disconnected from our world and how we can reconnect to our towns, to the value we can create, and, mostly, to one another. As the speculative economy collapses under its own weight, Life Inc. shows us how to build a real and human-scaled society to take its place.
The First Tycoon: The Epic Life of Cornelius Vanderbilt
T.J. Stiles - 2009
Humbly born on Staten Island during George Washington’s presidency, he rose from boatman to builder of the nation’s largest fleet of steamships to lord of a railroad empire. Lincoln consulted him on steamship strategy during the Civil War; Jay Gould was first his uneasy ally and then sworn enemy; and Victoria Woodhull, the first woman to run for president of the United States, was his spiritual counselor. We see Vanderbilt help to launch the transportation revolution, propel the Gold Rush, reshape Manhattan, and invent the modern corporation—in fact, as T. J. Stiles elegantly argues, Vanderbilt did more than perhaps any other individual to create the economic world we live in today.In The First Tycoon, Stiles offers the first complete, authoritative biography of this titan, and the first comprehensive account of the Commodore’s personal life. It is a sweeping, fast-moving epic, and a complex portrait of the great man. Vanderbilt, Stiles shows, embraced the philosophy of the Jacksonian Democrats and withstood attacks by his conservative enemies for being too competitive. He was a visionary who pioneered business models. He was an unschooled fistfighter who came to command the respect of New York’s social elite. And he was a father who struggled with a gambling-addicted son, a husband who was loving yet abusive, and, finally, an old man who was obsessed with contacting the dead.The First Tycoon is the exhilarating story of a man and a nation maturing together: the powerful account of a man whose life was as epic and complex as American history itself.
On Corruption in America: And What Is at Stake
Sarah Chayes - 2020
Washington Rules: America's Path to Permanent War
Andrew J. Bacevich - 2010
In the Obama era, just as in the Bush years, these beliefs remain unquestioned gospel.In a vivid, incisive analysis, Andrew J. Bacevich succinctly presents the origins of this consensus, forged at a moment when American power was at its height. He exposes the preconceptions, biases, and habits that underlie our pervasive faith in military might, especially the notion that overwhelming superiority will oblige others to accommodate America's needs and desires—whether for cheap oil, cheap credit, or cheap consumer goods. And he challenges the usefulness of our militarism as it has become both unaffordable and increasingly dangerous.Though our politicians deny it, American global might is faltering. This is the moment, Bacevich argues, to reconsider the principles which shape American policy in the world—to acknowledge that fixing Afghanistan should not take precedence over fixing Detroit. Replacing this Washington consensus is crucial to America's future, and may yet offer the key to the country's salvation.
Flight of the Eagle
Conrad Black - 2013
Grant, Theodore Roosevelt, Woodrow Wilson, Franklin D. Roosevelt, Roosevelt and Winston Churchill, Harry S Truman, Dwight D. Eisenhower, John F. Kennedy, Richard M. Nixon, and Ronald Reagan.
The Wisdom of Crowds
James Surowiecki - 2004
With boundless erudition and in delightfully clear prose, Surowiecki ranges across fields as diverse as popular culture, psychology, ant biology, behavioral economics, artificial intelligence, military history, and politics to show how this simple idea offers important lessons for how we live our lives, select our leaders, run our companies, and think about our world.
Fulfillment: Winning and Losing in One-Click America
Alec MacGillis - 2021
. . It takes a skillful journalist to weave data and anecdotes together so effectively." —Carolyn Kellogg, Los Angeles TimesAn award-winning journalist investigates Amazon’s impact on the wealth and poverty of towns and cities across the United States.In 1937, the famed writer and activist Upton Sinclair published a novel bearing the subtitle A Story of Ford-America. He blasted the callousness of a company worth “a billion dollars” that underpaid its workers while forcing them to engage in repetitive and sometimes dangerous assembly line labor. Eighty-three years later, the market capitalization of Amazon.com has exceeded one trillion dollars, while the value of the Ford Motor Company hovers around thirty billion. We have, it seems, entered the age of one-click America—and as the coronavirus makes Americans more dependent on online shopping, its sway will only intensify.Alec MacGillis’s Fulfillment is not another inside account or exposé of our most conspicuously dominant company. Rather, it is a literary investigation of the America that falls within that company’s growing shadow. As MacGillis shows, Amazon’s sprawling network of delivery hubs, data centers, and corporate campuses epitomizes a land where winner and loser cities and regions are drifting steadily apart, the civic fabric is unraveling, and work has become increasingly rudimentary and isolated.Ranging across the country, MacGillis tells the stories of those who’ve thrived and struggled to thrive in this rapidly changing environment. In Seattle, high-paid workers in new office towers displace a historic black neighborhood. In suburban Virginia, homeowners try to protect their neighborhood from the environmental impact of a new data center. Meanwhile, in El Paso, small office supply firms seek to weather Amazon’s takeover of government procurement, and in Baltimore a warehouse supplants a fabled steel plant. Fulfillment also shows how Amazon has become a force in Washington, D.C., ushering readers through a revolving door for lobbyists and government contractors and into CEO Jeff Bezos’s lavish Kalorama mansion.With empathy and breadth, MacGillis demonstrates the hidden human costs of the other inequality—not the growing gap between rich and poor, but the gap between the country’s winning and losing regions. The result is an intimate account of contemporary capitalism: its drive to innovate, its dark, pitiless magic, its remaking of America with every click.
740 Park: The Story of the World's Richest Apartment Building
Michael Gross - 2005
One apartment had 37 rooms, 14 bathrooms, 43 closets, 11 working fireplaces, a private elevator, and his-and-hers saunas; another at one time had a live-in service staff of 16. To this day, it is steeped in the purest luxury, the kind most of us could only imagine, until now. The last great building to go up along New York’s Gold Coast, construction on 740 Park finished in 1930. Since then, 740 has been home to an ever-evolving cadre of our wealthiest and most powerful families, some of America’s (and the world’s) oldest money—the kind attached to names like Vanderbilt, Rockefeller, Bouvier, Chrysler, Niarchos, Houghton, and Harkness—and some whose names evoke the excesses of today’s monied elite: Kravis, Koch, Bronfman, Perelman, Steinberg, and Schwarzman. All along, the building has housed titans of industry, political power brokers, international royalty, fabulous scam-artists, and even the lowest scoundrels.The book begins with the tumultuous story of the building’s construction. Conceived in the bubbling financial, artistic, and social cauldron of 1920’s Manhattan, 740 Park rose to its dizzying heights as the stock market plunged in 1929—the building was in dire financial straits before the first apartments were sold. The builders include the architectural genius Rosario Candela, the scheming businessman James T. Lee (Jacqueline Kennedy Onassis’s grandfather), and a raft of financiers, many of whom were little more than white-collar crooks and grand-scale hustlers. Once finished, 740 became a magnet for the richest, oldest families in the country: the Brewsters, descendents of the leader of the Plymouth Colony; the socially-registered Bordens, Hoppins, Scovilles, Thornes, and Schermerhorns; and top executives of the Chase Bank, American Express, and U.S. Rubber. Outside the walls of 740 Park, these were the people shaping America culturally and economically. Within those walls, they were indulging in all of the Seven Deadly Sins. As the social climate evolved throughout the last century, so did 740 Park: after World War II, the building’s rulers eased their more restrictive policies and began allowing Jews (though not to this day African Americans) to reside within their hallowed walls. Nowadays, it is full to bursting with new money, people whose fortunes, though freshly-made, are large enough to buy their way in. At its core this book is a social history of the American rich, and how the locus of power and influence has shifted haltingly from old bloodlines to new money. But it’s also much more than that: filled with meaty, startling, often tragic stories of the people who lived behind 740’s walls, the book gives us an unprecedented access to worlds of wealth, privilege, and extraordinary folly that are usually hidden behind a scrim of money and influence. This is, truly, how the other half—or at least the other one hundredth of one percent—lives.
America the Beautiful: Rediscovering What Made This Nation Great
Ben Carson - 2011
Ben Carson helps us learn from our past in order to chart a better course for our future. From his personal ascent from inner-city poverty to international medical and humanitarian acclaim, Carson shares experiential insights that help us understand: … what is good about America … where we have gone astray … which fundamental beliefs have guided America from her founding into preeminence among nations Written by a man who has experienced America’s best and worst firsthand, America the Beautiful is at once alarming, convicting, and inspiring. You’ll gain new perspectives on our nation’s origins, our Judeo-Christian heritage, our educational system, capitalism versus socialism, our moral fabric, healthcare, and much more. An incisive manifesto of the values that shaped America’s past and must shape her future, America the Beautiful calls us all to use our God-given talents to improve our lives, our communities, our nation, and our world.
Eating the Dinosaur
Chuck Klosterman - 2009
He's covered extreme metal, extreme nostalgia, disposable art, disposable heroes, life on the road, life through the television, urban uncertainty and small-town weirdness. Through a variety of mediums and with a multitude of motives, he's written about everything he can think of (and a lot that he's forgotten). The world keeps accelerating, but the pop ideas keep coming.In Eating the Dinosaur, Klosterman is more entertaining and incisive than ever. Whether he's dissecting the boredom of voyeurism, the reason why music fans inevitably hate their favorite band's latest album, or why we love watching can't-miss superstars fail spectacularly, Klosterman remains obsessed with the relationship between expectation, reality, and living history. It's amateur anthropology for the present tense, and sometimes it's incredibly funny.
In Search of the Lost Chord: 1967 and the Hippie Idea
Danny Goldberg - 2017
However elusive this Lost Chord may be, Danny G. searches it out and nails it to the tree flesh. Eternity now! 1967 forever!" --Wavy Gravy"Danny Goldberg’s deeply personal and political history of 1967 and the hippie idea weaves together rollicking, rousing, wonderfully colorful and disparate narratives to remind us how the energies and aspirations of the counterculture were intertwined with protest and reform. There is a direct line from many of the events, movements, and people of 1967 to our times. Goldberg draws the line for us with mesmerizing storytelling, characters, and conversations."--Katrina vanden Heuvel,
The Nation
"Danny Goldberg has written a lively, well-researched, kaleidoscopic account--at once openhearted and levelheaded--of a spiritual, pharmacological, political, and musical supernova whose reverberations are still strongly felt a half-century later."--Hendrik Hertzberg"Danny Goldberg is probably one of the purest, most reasonable guides you could ask for to 1967."--Andrew Loog Oldham, author of
Rolling Stoned
"Hippie 101--a kaleidoscopic snapshot of the Big Bang fifty years ago, three parts social and musical history, one part personal memoir, a sweeping overview that also manages to be up close and personal. Bravo."--Joel Selvin, author of
Altamont: The Rolling Stones, the Hells Angels, and the Inside Story of Rock's Darkest Day
"Danny Goldberg has done something I would not have thought possible: with diligent research, sharp prose, a clear mind, and an open heart, he has rescued a period of history from the clichés that had previously defined it. I began this book thinking hippies ridiculous. I ended it with a far more complex view, and one that showed me how little I had known or understood--a truly impressive achievement."--Eric Alterman, author of
The Cause: The Fight for American Liberalism from Franklin Roosevelt to Barack Obama
Danny Goldberg’s new book is a subjective history of 1967, the year he graduated from high school. It is, he writes in the introduction, “an attempt at trying to remember the culture that mesmerized me, to visit the places and conversations I was not cool enough to have been a part of.” It is also a refreshing and new analysis of the era; by looking at not only the political causes, but also the spiritual, musical, and psychedelic movements, Goldberg provides a unique perspective on how and why the legacy of 1967 lives on today.1967 was the year of the release of the Beatles’s Sgt. Pepper’s Lonely Hearts Club Band, and of debut albums from the Doors, the Grateful Dead, Jimi Hendrix, Janis Joplin, among many others.In addition to the thriving music scene, 1967 was also the year of the Summer of Love; the year that millions of now-illegal LSD tabs flooded America; Muhammad Ali was convicted of avoiding the draft; Martin Luther King Jr. publicly opposed the war in Vietnam; Stokely Carmichael championed Black Power; Israel won the Six-Day War, and Che Guevara was murdered. It was the year that hundreds of thousands of protesters vainly attempted to levitate the Pentagon. It was the year the word “hippie” peaked and died, and the Yippies were born.Exhaustively researched and informed by interviews with Allen Ginsberg, Timothy Leary, Ram Dass, Tom Hayden, Cora Weiss, and Gil Scott-Heron (one of many of Goldberg’s high school classmates who entered the culture), In Search of the Lost Chord is a mosaic of seminal moments in the psychedelic, spiritual, rock-and-roll, and political protest cultures of 1967.