A Financial Times Book of the Year A ProMarket Book of the Year “Superbly argued and important...Donald Trump is in so many ways a product of the defective capitalism described in The Great Reversal. What the U.S. needs, instead, is another Teddy Roosevelt and his energetic trust-busting. Is that still imaginable? All believers in the virtues of competitive capitalism must hope so.” —Martin Wolf, Financial Times “In one industry after another...a few companies have grown so large that they have the power to keep prices high and wages low. It’s great for those corporations—and bad for almost everyone else.” —David Leonhardt, New York Times “Argues that the United States has much to gain by reforming how domestic markets work but also much to regain—a vitality that has been lost since the Reagan years...His analysis points to one way of making America great again: restoring our free-market competitiveness.” —Arthur Herman, Wall Street Journal Why are cell-phone plans so much more expensive in the United States than in Europe? It seems a simple question, but the search for an answer took one of the world’s leading economists on an unexpected journey through some of the most hotly debated issues in his field. He reached a surprising conclusion: American markets, once a model for the world, are giving up on healthy competition. In the age of Silicon Valley start-ups and millennial millionaires, he hardly expected this. But the data from his cutting-edge research proved undeniable. In this compelling tale of economic detective work, we follow Thomas Philippon as he works out the facts and consequences of industry concentration, shows how lobbying and campaign contributions have defanged antitrust regulators, and considers what all this means. Philippon argues that many key problems of the American economy are due not to the flaws of capitalism or globalization but to the concentration of corporate power. By lobbying against competition, the biggest firms drive profits higher while depressing wages and limiting opportunities for investment, innovation, and growth. For the sake of ordinary Americans, he concludes, government needs to get back to what it once did best: keeping the playing field level for competition. It’s time to make American markets great—and free—again.

This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.

The Great Reversal is the first critical study of the widely heralded reforms currently transforming China's economy. From his long experience in Chinese agriculture, Hinton first examines the course of agricultural reform over the past decade, then looks at its consequences in different areas of the countryside and considers its implications for the country as a whole. He raises troubling questions about China's capitalist future-the growing landlessness, increasing inequality, and above all, the destruction of the nation's natural resources and the collectively built infrastructure that was the great achievement of the revolution. In so doing he sheds new light on the sources of discontent behind the demonstrations that culminated in the Tiananmen massacre of June 1989. Recognized inside and outside China as an expert on the country's agriculture, Hinton spent five or six months there every year but one since 1978, when the wave of reform was first introduced. He witnessed the events of June 1989 first hand. This experience gives authority to an analysis that digs deeper and more widely than anything else available. His essays open up a new perspective on Mao and his successors, one that has been totally obscured by the Western media.

Why did the evangelical church, which had been the leader in social welfare and reform prior to the twentieth century, discontinue its involvement in social concerns? Is a commitment to personal evangelism incompatible with an interest in social issues? In this provocative book, Dr. Moberg analyzes the Great Reversal of the early twentieth century and discusses its causes and effects, all in the context of seeing the Bible as the guide to faith and conduct. The importance of recognizing and coping with social evil as well as personal sin is emphasized, and the author concludes with a summary of developments that are helping to reverse the Great Reversal and restore evangelical Christianity to its rightful place of leadership.

Christians today are called to discern the shape and style of a life "worthy of the gospel of Christ". Even in the face of changing situations and new moral problems to address, the contemporary church stands self-consciously in a tradition of which the New Testament is a normative part.In this major study of New Testament ethics, Verhey examines the ethic of Jesus, for it is there that the New Testament tradition begins. He then analyzes the different forms in which the early church handed down the memory of Jesus's words and deeds in the development of a moral tradition. Next, he deals with that tradition as it came to canonical expression in the New Testament writings.In the last part of the book, Verhey focuses on the use of the New Testament in the continuing moral tradition of the church, surveying proposals for the use of Scripture, identifying the critical methodological questions, and defending a "modest proposal" for the use of Scripture. Copyright © Libri GmbH. All rights reserved.

Defense attorney and Harvard law professor provides an insider's account of the trial, appeal, subsequent retrial, and acquittal in the murder case of Claus von Bulow, profiling the people involved. NOTE: This edition does not include photographs.

Not long ago, Republicans could take pride in their party’s tradition of environmental leadership. In the late 1960s and early 1970s, the GOP helped to create the Environmental Protection Agency, extend the Clean Air Act, and protect endangered species. Today, as Republicans denounce climate change as a “hoax” and seek to dismantle the environmental regulatory state they worked to build, we are left to wonder: What happened? In The Republican Reversal, James Morton Turner and Andrew C. Isenberg show that the party’s transformation began in the late 1970s, with the emergence of a new alliance of pro-business, libertarian, and anti-federalist voters. This coalition came about through a concerted effort by politicians and business leaders, abetted by intellectuals and policy experts, to link the commercial interests of big corporate donors with states’-rights activism and Main Street regulatory distrust. Fiscal conservatives embraced cost-benefit analysis to counter earlier models of environmental policy making, and business tycoons funded think tanks to denounce federal environmental regulation as economically harmful, constitutionally suspect, and unchristian, thereby appealing to evangelical views of man’s God-given dominion of the Earth. As Turner and Isenberg make clear, the conservative abdication of environmental concern stands out as one of the most profound turnabouts in modern American political history, critical to our understanding of the GOP’s modern success. The Republican reversal on the environment is emblematic of an unwavering faith in the market, skepticism of scientific and technocratic elites, and belief in American exceptionalism that have become the party’s distinguishing characteristics.