In Cornered, journalist Barry C. Lynn paints a genuinely alarming picture: most of our public debates about globalization, competitiveness, creative destruction, and risky finance are nothing more than a cover for the widespread consolidation of power in nearly every imaginable sector of the American economy.
Cornered strips the camouflage from the secret world of twenty-first-century monopolies—neofeudalist empires whose sheer size, vast resources, and immense political power enable them to control virtually every major industry in America in an increasingly authoritarian manner. Lynn reveals how these massive juggernauts, which would have been illegal just thirty years ago, came into being, how they have destroyed or devoured their competition, and how they collude with one another to maintain their power and create the illusion of open, competitive markets.
The Obama administration has promised more aggressive enforcement on antitrust issues, but Lynn argues that they are missing the forest for the trees. For decades, the federal government has all but encouraged companies to buy one another up, outsource all their production, and make their profits by leveraging their market share. It will take more than a lawsuit or two to overthrow America's corporatist oligarchy and restore a model of capitalism that protects our rights as property holders and citizens.
Through stories of real people and real industries, Barry C. Lynn shows how monopolies threaten independent businesses, squelch innovation, degrade the quality and safety of basic products, destabilize our most vital industrial and financial systems, and destroy the very fabric of democracy. Avoiding the partisan cant that has poisoned virtually every important American debate in recent years, he explains how, over the past three decades, leaders of both parties and thinkers across the political spectrum have encouraged and enabled the growth of monopolies. He traces the history of how such now-familiar phrases as "free market" and "consumer welfare" were created and used to pave the way for monopolization. Lynn also demonstrates how the drive for "always lower prices," routinely invoked to justify ruthless practices that might once have landed their perpetrators in jail, makes jobs disappear, puts small businesses out of business, and turns dreams of entrepreneurial success into impossible fantasies.
Complete with an entirely fresh set of solutions based on the traditional American approach of empowering the individual citizen, Cornered is both a wake-up call and a call to arms for anyone who believes in democracy, competition, and liberty for all.
I'll admit, it was kind of a hard slog for me to read, but by the time you get to chapter two, you will not regret it. Read morePublished 7 months ago by Clifton Thompson
Excellent, this will explain in detail why free markets in Capitalism are illusions! What we have today are MNC that control over 50+ of markets, no real monopolistic competition... Read morePublished 8 months ago by J. D. Mackin
This book explains the current American economy from the top to the bottom and from the beginning to the present, blending history, theory, and fantastic story tellers of... Read morePublished 17 months ago by Zephyr Teachout
Tersely written in an intellectual style, "Cornered" wasn't finished by me, not bacause I didn't like it, but it aroused in me such outrage over the monopoly capitalism... Read morePublished 19 months ago by Romroc
Lynn does a great job of using basic scenarios that most anyone can understand to explain a complex problem that plagues not just the U.S. economy, but the global economy. Read morePublished 20 months ago by greenwood106
A brilliant and sweeping treatise on the deteriorating state of Western economies. In three parts, this book covers what went wrong, how it went wrong, why it went wrong, who is to... Read morePublished on March 30, 2012 by Lester P.
This book does provide good evidence of corporations buying political influence, and attempting to control, market, but I think this book misguides readers into believing that it... Read morePublished on March 13, 2012 by Bailie Sepulveda
I had to purchase this book after hearing an interview with Mr. Lynn on NPR. Both the interview, which pricked my interest and the book go a long way in explaining the wreckage... Read morePublished on July 8, 2011 by Walckin'