Every American benefits every day from the phenomenal productivity of the free market, so why do so many people feel guilty or skeptical about our business system? In this passionately argued, eye-opening book, talk-radio star and bestselling author Michael Medved provides detailed and devastating rebuttals to the most widely circulated smears against capitalism.
MYTH: Big business is bad, small business is good.
TRUTH: Every big business began life as a small business, and every small business today yearns for enough success to become a big business tomorrow. For some products—like cars or electrical power—little companies can’t benefit their workers or customers as reliably as huge corporations.
MYTH: Business executives are overpaid and corrupt.
TRUTH: Top leaders will always command top dollar, and a company can’t limit executive pay without limiting its access to talent. Ferocious, long-term competition in the corporate world ultimately rewards focus and hard work, not short cuts and corruption.
MYTH: You can count on better treatment from the government than from business.
TRUTH: If a private company deals with you poorly, you can take your business elsewhere. But with the government’s power, you get only two choices: compliance or jail.
Medved responds to business-bashing lies with the slashing wit, irrefutable facts, fascinating historical nuggets, illuminating anecdotes, and liberating clarity that made him one of the top-ten talk-radio hosts in the United States. This audacious and urgently needed book provides energy and inspiration for a beleaguered free-market system poised for its unstoppable comeback.
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MICHAEL MEDVED’s daily three-hour radio program, The Michael Medved Show, reaches more than four million listeners on more than two hundred stations coast to coast. He is the author of eleven other books, including the bestsellers The 10 Big Lies About America, Hollywood vs. America, Hospital, and What Really Happened to the Class of ’65?, and is a member of USA Today ’s board of contributors. For more than a decade he cohosted Sneak Previews, PBS’s weekly movie review show. An honors graduate of Yale, Medved lives with his family in the Seattle area.
Michael Medved is a nationally syndicated radio talk show host, best-selling author and veteran film critic. His daily three-hour program, emphasizing the intersection of politics and pop culture, reaches close to 5 million listeners in over 200 markets, coast to coast. For twelve consecutive years, he's been listed by Talkers Magazine as one of their "Heavy Hundred" most important American talk show hosts, and for seven of those years his show has also been listed as one of the ratings top ten.
Born in Philadelphia, raised in San Diego, Mr. Medved graduated with honors from Yale and then attended Yale Law School-where his classmates included Bill and Hillary Clinton. After working as a screenwriter in Hollywood, he reviewed movies for CNN, and later as chief film critic for the New York Post. He also served for twelve years as co-host of "Sneak Previews," the nationally televised weekly movie review show on PBS-TV.
Mr. Medved is the author of twelve non-fiction books, including the national bestseller What Really Happened to the Class of '65 (the basis for a popular TV series on NBC), as well as the definitive history of the White House chiefs of staff, The Shadow Presidents. His most influential-and controversial-work was a best-selling indictment of the entertainment industry, Hollywood Vs. America. England's prestigious Guardian newspaper wrote: "Just Occasionally, a book changes the way the world thinks. Michael Medved's Hollywood Vs. America is such a book." Mr. Medved then collaborated with his wife, Dr. Diane Medved, a clinical psychologist and author in her own right, on Saving Childhood: Protecting Our Children from the National Assault on Innocence. In October 1998, the Wall Street Journal wrote: "If Saving Childhood isn't an important book, I don't know what one would look like." His book, "Right Turns" (Crown Forum/Random House, January, 2005) drew rave reviews for its "lively and intimate" description of his transition from "punk liberal activist" to "lovable conservative curmudgeon."
Most recently, (2008-2009), Michael's book "The 10 Big Lies About America," spent twelve weeks on the New York Times extended bestseller list, and became a Main Selection of the Conservative Book Club. The follow-up volume --- "The 5 Big Lies About American Business," is scheduled for publication by Random House/Crown Forum on December 1, 2009. It is already a Main Selection of the Conservative Book Club.
Mr. Medved has been a frequent guest on all the major TV talk shows, including Larry King Live, Nightline, Oprah, David Letterman, Good Morning America, CNN's Reliable Sources and countless others. His columns on media and society appear regularly in USA Today, where he serves as a member of the Board of Contributors. The Medveds live in the Seattle area where they've raised their three children. Their oldest daughter is currently in graduate school, their middle daughter is a senior at University, and their youngest, Danny, is a senior in High School.
Corporate America has been labeled as a vast wasteland of bureaucracy, red tape and micromanagement; led by pompous CEOs who have little or no regard for their employees; who forsake long term success for short term profitability. And that's on a good day.
I witnessed much of those things, after spending 26 years in the often hostile environment of corporate America; however, the free-market system that so many have criticized in recent years, is still the best system for creating economic prosperity for civilization, and you can take that to the bank with you; assuming you can find one that's still open for business in these troubled times.
Seriously, our recent financial troubles---from the real estate crash of '08 and the subsequent global economic meltdown, to the failures of many of Wall Street's biggest names---have been chronicled in many books; but the underlying causes had nothing to do with the system, per se; it's more a failure of incompetent and misguided individuals, from all sectors of business and government, who did too little to prevent the meltdown; and much to prolong the agony. Hopefully, the lessons learned from the many fiascos that took place over the past couple of years, will help us avert a similar fate in the future.
American business is flawed, but is still capable of rebounding; indeed, the recovery appears well under way; with good management in place, the system provides value for the consumer and a healthy work environment for its employees; and it works best with minimal government interference. History has proven that time and time again.
This particular book, written by Michael Medved, helps clear the air on some (five) of the "big lies" about American business. Some of the misconceptions may be applicable to poorly run enterprises; for the vast majority of businesses attempting to thrive in a free-market economy, it's a bunch of hogwash.
As usual, Medved delivers wonderful anecdotes about the misleading claims against capitalism in America and abroad. He does it with clear, balanced logic, and even some insight into the mindset behind those who bemoan our position of authority in the world. It's hard to argue, that American entrepreneurial enterprise is a key element of our culture, and that spirit is something we would do well to acknowledge and foster, rather than stifle. We should be proud of our accomplishment as a progressive nation. It's Medved's ability to debate and apply logic that makes this book strong, and it's his personability that makes this book so enjoyable.
Given all that is going on in Washington at the moment, this book couldn't be more appropriate. The arguements presented by the author are coherent and sufficiently supported by facts. Good job!
