In this much-anticipated book, a leading economist argues that many key problems of the American economy are due not to the flaws of capitalism or the
inevitabilities of globalization but to the concentration of corporate power. 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.
At the heart of Central Asia lies a land where colossal mountains and sweeping valleys sleep under a blanket of lush greenery. Crowned with golden palaces and wondrous monuments, the architectural landscape of the region is so rich with detail, the structures have been said to mirror the heavens themselves.
For the 1961 model year, the Dart continued as the smallest full-size Dodge. It retained the 118 in (2,997 mm) wheelbase, and was restyled to emulate the larger Polara. The same three trim levels were available: the premium Phoenix, mid-range Pioneer, and base Seneca. Once again, wagons shared the Polara’s 122 in/310 cm wheelbase; they also shared the Polara’s unique side-mounted taillights.
The Dart name originally appeared on a 1956 Chrysler show car featuring a streamlined body designed by the Italian coachbuilder Carrozzeria Ghia that was later modified and renamed the Dart Diablo. The production Dart was introduced as a lower-priced, full-size Dodge in 1960 and 1961, became a mid-size car for 1962, and then was a compact from 1963 to 1976.
Napatan kings later held sway over the kingdom of Kush in the northern Sudan, and built pyramids for themselves and their wives in cemeteries at Kurru and Napata. Studying these lavishly decorated pyramids, and the mortuary rites that took place in the attached chapels, makes clear some of the differences between ancient Egyptian and Napatan beliefs and priorities.
And what if older neurons were replaced wholesale with new stem cells? They might scramble different sectors of the brain by destroying the new connections between the originals. Fiddle with those, and who knew what mayhem might follow? Memories, learning, and other cerebral functions that the brain had grown accustomed to might simply vanish. On the other hand, in the case of a disease like Alzheimer’s, maybe new memories would be better than no memories at all.
Leblon. Run by the owner of Brazilian fashion label Osklen, this home away from home in an old seafront building stays faithful to the brand with its chic tropical touches.
Upscale Leblon is known for its beach, one of the city’s trendiest, most tranquil stretches of sand. Inland, leafy streets have restaurants ranging from cozy French bistros to lively steakhouses, plus mellow bars for beers and caipirinhas. Shopping options include designer fashion boutiques and Shopping Leblon, a modern mall. Teatro do Leblon is a grassroots venue with a packed, eclectic program.
Theatre critics Matt Wolf and Lyn Gardner join Robert Bound to give their verdict on the new production of Chekhov’s ‘Uncle Vanya’ at the Harold Pinter Theatre, starring Toby Jones and Ciarán Hinds.
This week on Prognosis, we look at one startup that’s trying to redesign care for some of the most vulnerable patients, taking into account the complex realities of their lives. The company is trying to improve care for people and communities the medical system often fails – and it believes that fixing those failures will not only make people healthier, it will also save money.
For mathematician Francis Su, a society without mathematical affection is like a city without concerts, parks, or museums. To miss out on mathematics is to live without experiencing some of humanity’s most beautiful ideas.