The Captured Economy: How the Powerful Become Richer, Slow Down Growth, and Increase Inequality
| Author | : | |
| Rating | : | 4.27 (864 Votes) |
| Asin | : | 019062776X |
| Format Type | : | paperback |
| Number of Pages | : | 232 Pages |
| Publish Date | : | 2013-10-05 |
| Language | : | English |
DESCRIPTION:
Teles argue that one cause-state action to entrench privilege by subverting market competition - is common to both. Lindsey and Teles document in detail four of the most important examples: subsidies for the financial sector's excessive risk taking, excessive protection of copyrights and patents, protection of incumbent businesses through occupational licensing, and the "Not In My Back Yard" (NIMBY)-led escalation of land use controls. When the state assumes this role, the tradeoff between equity and efficiency no longer holds.Over the past 40 years or so, important new regulatory barriers have shielded the powerful and privileged from the rigors of competition, thereby inflating their incomes -- sometimes to an extravagant degree. Both problems have many causes, but Brink Lindsey and Steven M. Economists have long taught that there is a tradeoff between efficiency and equity -- that is, between making a bigger pie and dividing it more fairly. This idea is what makes our current predicament so puzzling: today we are faced with both a stagnating economy and
He is the author of The Rise of the Conservative Legal Movement, and co-author of Prison Break.. Teles is an Associate Professor of Political Science at Johns Hopkins University. Brink Lindsey is Vice President of The Cato Institute, and author of The Age of Abundance and Human Capitalism.Steven M
He is the author of The Rise of the Conservative Legal Movement, and co-author of Prison Break.. About the AuthorBrink Lindsey is Vice President of The Cato Institute, and author of The Age of Abundance and Human Capitalism.Steven M. Teles is an Associate Professor of Political Science at Johns Hopkins University