Description
Book SynopsisPresenting a comprehensive overview of the changes in policies and economic doctrines of the American economy following the 2008 global financial crisis, this book critically examines the reformation of the corporate landscape. Observing the growth of oligopolistic market tendencies and increased economic concentration, it draws on scholarly literature from economics, management studies and legal theory to provide an integrated perspective on the causes and consequences of the crisis.
Discussing the growth of oligopolistic market niches in the American economy, chapters explore their causes, including the influence of “anti-antitrust” scholars on legal enforcement practices and the resulting relaxation of antitrust law. The book highlights their consequences, including the growth of monopsony and labor market concentration. Alexander Styhre uses aggregate economic equality data across the book to show that the working class in advanced economies have not been compensated for the globalization of the economy. It concludes by looking towards the long-term consequences of rising economic concentration, examining non-traditional labor contracts, new employment relations, lower entrepreneurial activities and lower labor compensation in the new corporate landscape.
This informative book will be useful to students and scholars of business ethics and trust, corporate governance and organization studies. It will also be a critical read for policy makers concerned with the causes and consequences of economic inequality.
Trade Review‘As the dynamism of the US and other advanced economies appears to be damaged by a lethal combination of low interest rates, plunging productive investments, real wage stagnation, rising household debt and growing inequalities, the concentration of economic power, and its political expression, are plain for all to see. Antitrust is once again high on the political agenda. Alexander Styhre’s new book tackles these questions head-on. It offers a lucid reading of the causes and consequences of the new corporate landscape that will interest both the New Brandeisians and their opponents. And his conclusions – that greater market competition is a good thing, but that the corporate system also needs to allocate the economic value it generates in ways that render it more legitimate in the eyes of its constituencies – will surely resonate with many today.’ -- David Gindis, University of Hertfordshire, UK
‘The global economy is increasingly dominated by a handful of super-companies that wield immense power over citizens and governments. In this timely and perspicuous analysis of economic concentration, Alexander Styhre shows how the 2008 global financial crisis set the scene for a massive restoration of monopoly capitalism. This excellent book reveals the economic, legal and social policy drivers behind this and raises grave ethical questions about the decline of democracy. Anyone interested in the new corporate landscape should read this book.’ -- Peter Fleming, University of Technology Sydney, Australia
Table of ContentsContents: Preface 1. The reformation of economic policies after the 2008 finance industry crisis 2. Legal theory doctrines and economic concentration: the ebbs and flows of antitrust enforcement 3. The consequences of economic concentration: declining dynamics in the US economy 4. Navigating in concentrated economies: issues, controversies, and prospects Bibliography Index
