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By Barry C. Lynn

"A manifesto for our times."
Thomas Frank, Wall road Journal

"Cornered is a true eye-opener for America's enterprise neighborhood. Barry Lynn information how the focus of strength in huge international enterprises can harm marketers, stunt innovation, and gradual progress. This e-book is vital to knowing how we acquired into our present mess."—Michael Mandel, leader economist, BusinessWeek

Barry C. Lynn, some of the most unique and superb scholars of the yankee economic climate, paints a certainly alarming photo: so much of our public debates approximately globalization, competitiveness, artistic destruction, and dicy finance are not anything greater than a canopy for the frequent consolidation of energy in approximately each that you can imagine zone of the yank economy.

Cornered strips the camouflage from the key global of twenty-first-century monopolies-neofeudalist empires whose sheer dimension, gigantic assets, and monstrous political energy permit the folks who keep watch over to direct nearly each significant in the United States in an more and more authoritarian demeanour. Lynn finds how those big juggernauts, which might were unlawful simply thirty years in the past, got here into being, how they've got destroyed or gobbled their pageant, and the way they collude with each other to take care of their strength and create the semblance of open, aggressive markets.

A confluence of small executive zealotry and erroneous effective industry theories has result in an entire dismantling of presidency oversight of undefined. Has that introduced us the promised monetary utopia? simply the other. for many years, the dominant elite has used the government to all yet inspire businesses to shop for each other up, outsource all their construction, and make their gains through leveraging their whole strength over the industry itself. Lynn makes transparent it's going to take greater than a lawsuit or to overthrow America's corporatist oligarchy and fix a version of capitalism that protects our rights as estate holders and electorate, and the independence of our Republic.* information how normal electorate can subscribe to jointly to overcome the nice powers, and the way to take action via relearning the true background and language of our democratic republic.* comprises tales of actual humans and genuine industries that convey how monopolies threaten self reliant companies, squelch innovation, degrade the standard and defense of goods, destabilize important commercial and monetary platforms, and wreck the cloth of democracy* Explores monopoly energy throughout a big selection of industries, together with home equipment, automobile elements, beer, eyeglasses, scientific offers, dog food, surfboards, supplements, and more.* Demonstrates how the force for "always reduce prices" makes your task disappear, places your corporation into bankruptcy, and turns desires of entrepreneurial good fortune into most unlikely fantasies

Lynn is that rarest of creatures, a journalist whose theoretical writings are taken very heavily by way of the pinnacle policymakers and monetary thinkers in Washington and worldwide. His paintings has been in comparison already to John Kenneth Galbraith and Peter Drucker. The Washington Post known as Lynn's final book-on globalization-"Tom Friedman for grownups." Cornered is key examining for a person who cares approximately the USA and its destiny.

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Extra info for Cornered: The New Monopoly Capitalism and the Economics of Destruction

Example text

S. political economy has been so successful and so complete that sometimes even the most vigorous supporters of laissez-faire capitalism admit to having doubts, sometime big ones. Let’s flip the channel back to Jim Cramer. After the Justice Department approved Whirlpool’s plan to buy Maytag in June 2006 in a deal that gave the people who run that firm control of an astounding 75 percent share of washer and dryer sales in the United States, the MSNBC stock star declared that “Whirlpool and Maytag never should’ve been allowed to combine.

Nor is the point whether the ultimate purpose of any one THE HIDDEN MONOPOLIES EVERYWHERE 15 deal is to forge an economic power or merely to rake in a bunch of fast cash by forging what appears to be a power and then offloading it, along with all the debt loaded upon it, onto the public. What matters is, first, the new physical structures and political powers that these manic bursts of buying and reorganizing leave behind in the real economy. This, of course, is where all the real goods and real services on which we depend are produced and delivered, and it is where most of us earn our real livings.

There was also a big update on the dramatic fight to control the Dutch banking conglomerate ABN AMRO, in which a consortium led by the Royal Bank of Scotland had challenged a friendly deal proposed by the London-based giant Barclays. In a column, the Telegraph business editor estimated that a fifth of Britain’s top hundred companies had been the subject of M&A speculation just in the previous month. ”19 Every so often came news of a decision that seemed to run counter to this trend, such as Tyco International’s plan to spin off its health-care and electronics units.

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