Audiobook6 hours
The Captured Economy: How the Powerful Enrich Themselves, Slow Down Growth, and Increase Inequality
Written by Brink Lindsey and Steven M. Teles
Narrated by Shawn Compton
Rating: 3.5 out of 5 stars
3.5/5
()
About this audiobook
For years, America has been plagued by slow economic growth and increasing inequality. Yet economists have long taught that there is a tradeoff between equity and efficiency-that is, between making a bigger pie and dividing it more fairly. That is why our current predicament is so puzzling: today, we are faced with both a stagnating economy and sky-high inequality.
In The Captured Economy, Brink Lindsey and Steven M. Teles identify a common factor behind these twin ills: breakdowns in democratic governance that allow wealthy special interests to capture the policymaking process for their own benefit. They document the proliferation of regressive regulations that redistribute wealth and income up the economic scale while stifling entrepreneurship and innovation. When the state entrenches privilege by subverting market competition, the tradeoff between equity and efficiency no longer holds.
Over the past four decades, new regulatory barriers have worked to shield the powerful from the rigors of competition, thereby inflating their incomes-sometimes to an extravagant degree. Lindsey and Teles detail four of the most important cases: subsidies for the financial sector's excessive risk taking, overprotection of copyrights and patents, favoritism toward incumbent businesses through occupational licensing schemes, and the NIMBY-led escalation of land use controls that drive up rents for everyone else.
Freeing the economy from regressive regulatory capture will be difficult. Lindsey and Teles are realistic about the chances for reform, but they offer a set of promising strategies to improve democratic deliberation and open pathways for meaningful policy change. An original and counterintuitive interpretation of the forces driving inequality and stagnation, The Captured Economy is a "must-listen" for anyone concerned about America's mounting economic problems and the social tensions they are sparking.
In The Captured Economy, Brink Lindsey and Steven M. Teles identify a common factor behind these twin ills: breakdowns in democratic governance that allow wealthy special interests to capture the policymaking process for their own benefit. They document the proliferation of regressive regulations that redistribute wealth and income up the economic scale while stifling entrepreneurship and innovation. When the state entrenches privilege by subverting market competition, the tradeoff between equity and efficiency no longer holds.
Over the past four decades, new regulatory barriers have worked to shield the powerful from the rigors of competition, thereby inflating their incomes-sometimes to an extravagant degree. Lindsey and Teles detail four of the most important cases: subsidies for the financial sector's excessive risk taking, overprotection of copyrights and patents, favoritism toward incumbent businesses through occupational licensing schemes, and the NIMBY-led escalation of land use controls that drive up rents for everyone else.
Freeing the economy from regressive regulatory capture will be difficult. Lindsey and Teles are realistic about the chances for reform, but they offer a set of promising strategies to improve democratic deliberation and open pathways for meaningful policy change. An original and counterintuitive interpretation of the forces driving inequality and stagnation, The Captured Economy is a "must-listen" for anyone concerned about America's mounting economic problems and the social tensions they are sparking.
Related to The Captured Economy
Related audiobooks
The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay Rating: 5 out of 5 stars5/5Straight Talk on Trade: Ideas for a Sane World Economy Rating: 3 out of 5 stars3/5The Price of Inequality: How Today's Divided Society Endangers Our Future Rating: 4 out of 5 stars4/5Global Inequality: A New Approach for the Age of Globalization Rating: 4 out of 5 stars4/5Winner-Take-All Politics: How Washington Made the Rich Richer--and Turned Its Back on the Middle Class Rating: 4 out of 5 stars4/5Engine of Inequality: The Fed and the Future of Wealth in America Rating: 5 out of 5 stars5/5Divested: Inequality in the Age of Finance Rating: 5 out of 5 stars5/5Can Democracy Survive Global Capitalism? Rating: 4 out of 5 stars4/5Money and Power: The World Leaders Who Changed Economics Rating: 0 out of 5 stars0 ratingsGoing Big: FDR's Legacy, Biden's New Deal, and the Struggle to Save Democracy Rating: 5 out of 5 stars5/5Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy Rating: 4 out of 5 stars4/5Monopolies Suck: 7 Ways Big Corporations Rule Your Life and How to Take Back Control Rating: 5 out of 5 stars5/5The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism Rating: 5 out of 5 stars5/5Leave Me Alone and I'll Make You Rich: How the Bourgeois Deal Enriched the World Rating: 3 out of 5 stars3/5People, Power, and Profits: Progressive Capitalism for an Age of Discontent Rating: 4 out of 5 stars4/5The Future of Capitalism: Facing the New Anxieties Rating: 4 out of 5 stars4/5A People's Guide to Capitalism: An Introduction to Marxist Economics Rating: 5 out of 5 stars5/5The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century Rating: 4 out of 5 stars4/5American Amnesia: How the War on Government Led Us to Forget What Made America Rich Rating: 4 out of 5 stars4/5Leverage: How Cheap Money Will Destroy the World Rating: 4 out of 5 stars4/5The Complacent Class: The Self-Defeating Quest for the American Dream Rating: 4 out of 5 stars4/5Anti-System Politics: The Crisis of Market Liberalism in Rich Democracies Rating: 0 out of 5 stars0 ratingsDemocracy at Work: A Cure for Capitalism Rating: 4 out of 5 stars4/5Saving Capitalism: For the Many, Not the Few Rating: 4 out of 5 stars4/5The Demographic Cliff: How to Survive and Prosper During the Great Deflation of 2014-2019 Rating: 5 out of 5 stars5/5Anti-Pluralism: The Populist Threat to Liberal Democracy (Politics and Culture) Rating: 4 out of 5 stars4/5Break 'Em Up: Recovering Our Freedom from Big Ag, Big Tech, and Big Money Rating: 5 out of 5 stars5/5Unbound: How Inequality Constricts Our Economy and What We Can Do about It Rating: 0 out of 5 stars0 ratings
Business For You
The Warmth of Other Suns: The Epic Story of America's Great Migration Rating: 5 out of 5 stars5/5How To Win Friends And Influence People Rating: 4 out of 5 stars4/5Think Faster, Talk Smarter: How to Speak Successfully When You're Put on the Spot Rating: 4 out of 5 stars4/5The Artist's Way at Work: Riding the Dragon: Twelve Weeks to Creative Freedom Rating: 4 out of 5 stars4/5Win Every Argument: The Art of Debating, Persuading, and Public Speaking Rating: 5 out of 5 stars5/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5Elon Musk Rating: 5 out of 5 stars5/5Company Rules: Or Everything I Know About Business I Learned from the CIA Rating: 4 out of 5 stars4/5Extreme Ownership: How U.S. Navy SEALs Lead and Win Rating: 5 out of 5 stars5/5Factfulness: Ten Reasons We're Wrong About the World--and Why Things Are Better Than You Think Rating: 4 out of 5 stars4/5The End of the World is Just the Beginning: Mapping the Collapse of Globalization Rating: 5 out of 5 stars5/5Getting Things Done: The Art of Stress-Free Productivity Rating: 4 out of 5 stars4/5Becoming Bulletproof: Protect Yourself, Read People, Influence Situations, and Live Fearlessly Rating: 5 out of 5 stars5/5Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not! Rating: 5 out of 5 stars5/5Astor: The Rise and Fall of an American Fortune Rating: 4 out of 5 stars4/5The Charisma Myth: How Anyone Can Master the Art and Science of Personal Magnetism (Intl Ed) Rating: 5 out of 5 stars5/5The Art of Happiness: A Handbook for Living Rating: 4 out of 5 stars4/5The Millionaire Next Door: The Surprising Secrets Of Americas Wealthy Rating: 5 out of 5 stars5/5The TenX Rule: The Only Difference Between Success and Failure Rating: 5 out of 5 stars5/5Silva Mind Control Method Of Mental Dynamics Rating: 5 out of 5 stars5/5Algorithms to Live By: The Computer Science of Human Decisions Rating: 4 out of 5 stars4/5The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers Rating: 5 out of 5 stars5/5Seeing What Others Don't: The Remarkable Ways We Gain Insights Rating: 4 out of 5 stars4/5Without a Doubt: How to Go from Underrated to Unbeatable Rating: 4 out of 5 stars4/5The Energy Bus: 10 Rules to Fuel Your Life, Work, and Team with Positive Energy Rating: 5 out of 5 stars5/5The Anatomy of Peace, Fourth Edition: Resolving the Heart of Conflict Rating: 5 out of 5 stars5/5You Will Own Nothing: Your War with a New Financial World Order and How to Fight Back Rating: 4 out of 5 stars4/5The Catalyst: How to Change Anyone's Mind Rating: 5 out of 5 stars5/5The Sociopath Next Door: The Ruthless Versus the Rest of Us Rating: 4 out of 5 stars4/5
Reviews for The Captured Economy
Rating: 3.4615384615384617 out of 5 stars
3.5/5
13 ratings0 reviews