Koob de

The Great Reversal: How America Gave Up on Free Markets

de Thomas Philippon par Rachel Baier

publié le 28/09/2020

By reading this koob, you will discover how the United States' economy has been moving away from a system of free markets over the past 20 years.

You will also learn about:

  • The reasons behind this transformation.

  • The consequences for workers and consumers.

  • Increased market concentration and lower levels of competition in most US industries.

  • Movement in the opposite direction within European Union member states.

  • The impact of money in US politics.

The United States has long been the poster child of a free market economy. However, over the past two decades, the economy has experienced a major shift, with markets becoming increasingly less free, leading to lower wages, lower purchasing power, more inequality, lower productivity, poorer quality products and services, and lower investment. Now, US markets are less free than those in most European Union member states, like France, something that would have been unthinkable before the turn of the century. How has such a paradigm shift been able to take place and what can be done to address it?

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