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The Myth of Capitalism
- Monopolies and the Death of Competition
- Narrated by: Pamela Almand
- Length: 9 hrs and 53 mins
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Publisher's Summary
The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook, and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed internet, health insurance, medical care, mortgage title insurance, social networks, internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their paycheck to monopolists and oligopolists.
The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages, and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why the US is becoming a more unequal society, why economic growth is anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why workers are losing out.
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
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What listeners say about The Myth of Capitalism
Average Customer RatingsReviews - Please select the tabs below to change the source of reviews.
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- Eric Baird
- 05-29-19
Read and then take action
Considering I bought this book through a company aquired by Amazon, I am guilty as charged. I've been a huge advocate for each and everyone of the companies now dominating todays market. For example I bought an Amazon shredder which was essentially knock off of a popular shredder made by an independent company advertising on Amazon. More concerning is the huge drop of internet start ups we are seeing in San Francisco. Its like the money has dried up. Bottom line is these companies are not bad. but any concentration of power is. This is a good sjort read with lots of information. Pass it along
6 people found this helpful
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- C. Armstrong
- 06-21-19
Fills in the gaps where Milton Friedman leaves off
This book could easily be titled "The legal tactics big businesses use to make themselves harder to compete with in a free enterprise market." That said, this is an eye-opening and thought provoking book, featuring large amounts of research findings that are shared in a way that is not overly pretentious. This book fills in the gaps where Milton Friedman & the Chicago School's economic theories leave off. Many folks can feel there is a problem with the system today, with prices, inflation, and cost of living on the up and up, all the while inequality continues to rise. Friedman's teachings about entrepreneurial freedom and the power of the free market to regulate itself through competition are powerful, but Tepper argues this is only possible to the extent where there is a fair playing field. He makes the case for what he terms is a "distorted version of capitalism" which serves to perpetuate monopolies, duopolies, and oligopolies.
Half of the book seems focused on Big Tech, which is great because it's a field I knew little about going into this read. The narrator was also very easy to listen to, making a very dense subject matter much more interesting.
4 people found this helpful
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- Fear and Loathing DC
- 05-30-20
Easy to recommend
Overall, its a great book. Understand that it tries to cover a lot of ground in a very short amount of space. The early chapters operate as a sort of primer on antitrust issues for the uninitiated, and middle of the book on does an extremely broad sweep of specific sectors, critiques and solutions. The choice to go broad means any one of these topics is shallow and where you're familiar with them you'll find yourself either filling in arguments yourself or poking holes, but I think it's enough for the purpose and there is a ton of strong arguments being made about why this isnt sector specific but a massive societal problem that's bigger than you think. Their proposals also dont come with much in the way of deep explanation. All these critiques being aired, the book reads quickly and was enjoyable, points out and makes arguments for maybe the most critical issues facing us right now and will give you plenty to think about. Easy to recommend, perhaps the best book for non-antitrust attorneys, and attorneys alike.
3 people found this helpful
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- Torrance Abell
- 09-08-19
Flawed, but still worth a read.
A lot of good insight. Author has no understanding of several industries like banking and some aspects of tech as it relates to consumers. It is almost as clueless as Warren. Rather political toward the end of the book, but on the whole, a worthwhile read.
3 people found this helpful
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- Amazon Customer
- 03-05-21
Read this book before it is banned
This is one of the best books that I have ever read. It is balanced, objective and approachable. It mixes economics, history and sociology seamlessly. The order of the book couldn't be better. it explains the problems and then gives specific examples. the summary gives practical short term and long term solutions.
This book doesn't just point fingers and divide people. Individual responsibility and personal choices are included in explanations of cause and effect.
This book could save America by bringing the left and right together around common goals. The by-product of following the suggestions made in this book would be a fairer country where innovators are rewarded and small businesses thrive.
2 people found this helpful
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- JLP
- 08-21-19
Interesting but too repetitive
This is an interesting and scary book, but the author’s repetitiveness is annoying. His editor should have caught this and made changes.
2 people found this helpful
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- bodunrin harrison
- 04-18-21
very good and will recommend to my friends.
The audio is very very good love and enjoy every minuite of it .lm giong to buy some for my class
1 person found this helpful
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- Tristan
- 11-27-20
Possibly the most important book I have read.
I hope this book is widely read. So many people sense something is wrong with how the economy works today, but they often misdiagnose the problems, leading to counter-productive policy and populist election outcomes. This book makes a convincing case that people should be angry, first and foremost, at market concentration and anti-competitive behaviour, which leads to stagnant wages, inequality, corporate indifference to public anger, and many, many other problems. The book ends with clear, concise recommendations for how to fix the problem.
1 person found this helpful
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- jerome m.
- 06-25-19
So, It Has Come To This?
So many people will not vote. Corporations will not change willingly. Politicians are owned by the corporations. Time for people to get out the pitchforks?
1 person found this helpful
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- SYL
- 12-04-22
Interesting analysis of Monopoly
Well founded thesis but too many examples of problems and a very few examples of proposed solutions and lack of clear pathway for implementation. Follow up of this writing is shortly needed. An eye opener!
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- O. Buraimoh
- 07-21-19
Well researched
Amazingly well researched, highly engaging and interesting listen. The way they tore apart the Thomas Piketty book made me laugh out loud.
2 people found this helpful
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- Anonymous User
- 12-19-22
I'd recommend this book for all levels
Great analysis without political bias on why capitalism isn't working the way it's supposed to. I particularly liked that they end the book with some real life measures we could be taking get inequality back to reasonable levels. This book is suitable for people who are new to economics / finance, but it also has something to offer for people who are more adept.
1 person found this helpful
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- T S
- 10-06-19
Interesting points
Overall a thought-provoking look at the current socioeconomic issues of our time, although very USA-centric. Clearly has disdained for left-wing issues, could perhaps benefit from considering them in more depth- their points betray an ignorance of what was actually theorised given their reliance on typical generalisations in US politics.
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- Anonymous User
- 01-06-20
Fascinating, but extremely US focused
Got through this really quickly surprisingly. Normally I would buy this via Kindle to read but the format was still enjoyable. It's a great window into how debaucherous the US system is right now and explaining why people are angry. That being said, if you live outside of USA you may find it too American unless you follow economics there closely. Very well researched and great examples. Sometimes quite preachy and ranting but deserves to be talked about.
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America’s struggling economy needs a better philosophy than the college student’s lament,“I can’t be out of money, I still have checks in my checkbook!” We've tried a government spending spree, and we've learned it doesn't work. Now is the time to rededicate our country to the pursuit of free-market capitalism, before we’re buried under a mound of debt and unfunded entitlements. But how do we navigate between government spending that’s too big to sustain and financial institutions that are "too big to fail?"
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Human Creativety creates Economic Growth
- By Will on 07-22-13
By: George Gilder
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Monopolized
- Life in the Age of Corporate Power
- By: David Dayen
- Narrated by: Stephen R. Thorne
- Length: 13 hrs and 19 mins
- Unabridged
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Over the last 40 years our choices have narrowed, our opportunities have shrunk, and our lives have become governed by a handful of very large and very powerful corporations. Today, practically everything we buy, everywhere we shop, and every service we secure comes from a heavily concentrated market. This is a world where four major banks control most of our money, four airlines shuttle most of us around the country, and four major cell phone providers connect most of our communications.
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Fantastic
- By Amazon Customer on 08-11-20
By: David Dayen
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The Great Reversal
- How America Gave Up on Free Markets
- By: Thomas Philippon
- Narrated by: Walter Dixon
- Length: 10 hrs and 1 min
- Unabridged
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Why are cellphone 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 a surprising conclusion: American markets, once a model for the world, are giving up on healthy competition.
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Eye-opening, but better as a book - a must-READ
- By Ash on 11-29-19
By: Thomas Philippon
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The Infidel and the Professor
- David Hume, Adam Smith, and the Friendship That Shaped Modern Thought
- By: Dennis C. Rasmussen
- Narrated by: Keith Sellon-Wright
- Length: 10 hrs and 7 mins
- Unabridged
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Vividly written, The Infidel and the Professor is a compelling account of a great friendship of two towering Enlightenment thinkers that had great consequences for modern thought. David Hume is widely regarded as the most important philosopher ever to write in English, but during his lifetime, he was attacked as "the Great Infidel" for his skeptical religious views and deemed unfit to teach the young. In contrast, Adam Smith was a revered professor of moral philosophy and is now often hailed as the founding father of capitalism.
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a thoroughly enjoyable account of friendship
- By henryj on 02-21-20
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The Coming of Neo-Feudalism
- A Warning to the Global Middle Class
- By: Joel Kotkin
- Narrated by: Traber Burns
- Length: 6 hrs and 33 mins
- Unabridged
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Following a remarkable epoch of greater dispersion of wealth and opportunity, we are inexorably returning towards a more feudal era marked by greater concentration of wealth and property, reduced upward mobility, demographic stagnation, and increased dogmatism. If the last 70 years saw a massive expansion of the middle class, not only in America but in much of the developed world, today that class is declining and a new, more hierarchical society is emerging. The new class structure resembles that of Medieval times.
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Pretty good but not a lot new
- By ClothingMonster on 01-25-21
By: Joel Kotkin
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The Origin of Capitalism
- A Longer View
- By: Ellen Meiksins Wood
- Narrated by: Jo Anna Perrin
- Length: 7 hrs and 3 mins
- Unabridged
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Ellen Meiksins Wood offers a clear and accessible introduction to the theories and debates concerning the birth of capitalism, imperialism, and the modern nation state. Capitalism is not a natural and inevitable consequence of human nature, nor simply an extension of age-old practices of trade and commerce. Rather, it is a late and localized product of very specific historical conditions, which required great transformations in social relations and in the relationship between humans and nature.
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incredibly dence.
- By Jake Fahey on 10-22-21
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Knowledge and Power
- The Information Theory of Capitalism and How It Is Revolutionizing Our World
- By: George Gilder
- Narrated by: David Cochran Heath
- Length: 10 hrs and 9 mins
- Unabridged
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Overall
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Performance
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Story
America’s struggling economy needs a better philosophy than the college student’s lament,“I can’t be out of money, I still have checks in my checkbook!” We've tried a government spending spree, and we've learned it doesn't work. Now is the time to rededicate our country to the pursuit of free-market capitalism, before we’re buried under a mound of debt and unfunded entitlements. But how do we navigate between government spending that’s too big to sustain and financial institutions that are "too big to fail?"
-
-
Human Creativety creates Economic Growth
- By Will on 07-22-13
By: George Gilder
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Four Futures
- Life After Capitalism
- By: Peter Frase
- Narrated by: Bob Souer
- Length: 3 hrs and 36 mins
- Unabridged
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Peter Frase argues that increasing automation and a growing scarcity of resources, thanks to climate change, will bring it all tumbling down. In Four Futures, Frase imagines how this postcapitalist world might look, deploying the tools of both social science and speculative fiction to explore what communism, rentism, socialism, and exterminism might actually entail.
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A great read for futurists
- By Anonymous User on 06-23-17
By: Peter Frase
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Gangsters of Capitalism
- Smedley Butler, the Marines, and the Making and Breaking of America's Empire
- By: Jonathan M. Katz
- Narrated by: Adam Barr
- Length: 14 hrs and 46 mins
- Unabridged
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Smedley Butler was the most celebrated warfighter of his time. Best-selling books were written about him. Hollywood adored him. Wherever the flag went, “The Fighting Quaker” went - serving in nearly every major overseas conflict from the Spanish War of 1898 until the eve of World War II.
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nostalgic melancholy sadness of yet another time
- By Robert Eaton Jr. on 01-29-22
By: Jonathan M. Katz
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The Founding Myth
- Why Christian Nationalism Is Un-American
- By: Andrew L. Seidel, Susan Jacoby - Foreword
- Narrated by: Christopher Grove
- Length: 12 hrs and 58 mins
- Unabridged
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Do "In God We Trust", the Declaration of Independence, and other historical "evidence" prove that America was founded on Judeo-Christian principles? Are the Ten Commandments the basis for American law? A constitutional attorney dives into the debate about religion's role in America's founding.