The Bigness Complex: Industry, Labor, and Government in the American Economy
"Adams and Brock demolish the view that equates size and efficiency and expose how special interests distort public policy for the purpose of corporate welfare."—Douglas Irwin, Professor of Economics, Dartmouth College\ “Economics can’t properly be separated from politics, because economic power translates directly into political power. At a time in our nation’s history when wealth is more concentrated than at any time since the Gilded Age, The Bigness Complex is enormously helpful for...
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This new edition has a thoroughly updated variety of issues, examples, and new developments, including government bailouts of the airline industry; regulation of biotechnology; the fiasco of recent electricity deregulation; and mergers and consolidations in oil, radio, and grocery retailing. The analysis is framed in the timeless context of American distrust of concentrations of power.
List of tables and chartsPrefacePt. IThe problem of power11Power and public policy32Economists and power11Pt. IIThe apologetics of power233Operating efficiency294Innovation efficiency465Social efficiency63Pt. IIIThe political economy of power : a historical perspective776The revolution of 1776 : American government797The revolution of 1776 : British economic policy88Pt. IVCompetition and the control of power958The role of antitrust979Cartels10510Monopoly12311The merger problem14412Horizontal mergers and joint ventures15313Vertical mergers16414Conglomerate mergers17415The limitations of antitrust184Pt. VGovernment intervention and private power20116The regulation of power20317Airlines : regulation and deregulation20918The limits of deregulation22219The protection of power23720The bailout of power253Pt. VIThe coalescence of power26921The labor-industrial complex27222The "sport-industrial" complex284Pt. VIIPublic policy alternatives29923The neo-darwinist vision30124The neoliberal vision30825A public philosophy316Notes327Index379
