Rethinking market regulation : helping labor by overcoming economic myths / John N. Drobak.

Format:

Book

Author/Creator:

Drobak, John N., author.

Series:

Oxford scholarship online.

Oxford scholarship online

Language:

English

Subjects (All):

Trade regulation--United States.

Trade regulation.

Labor policy--United States.

Labor policy.

Antitrust law--United States.

Antitrust law.

Physical Description:

1 online resource (200 pages).

Place of Publication:

New York : Oxford University Press, [2021]

Summary:

'Rethinking Market Regulation' tackles the plight of workers who lose their jobs from mergers and outsourcing by examining two economic 'principles,' or narratives that have shaped the perception of the economic system in the United States today: (1) the notion that the U.S. economy is competitive, making government market regulation unnecessary, and (2) the claim that corporations exist for the benefit of their shareholders but not for other stakeholders.

Contents:

cover

Half title

Rethinking Market Regulation

Copyright

Dedication

Contents

Preface

1. Introduction

2. The Theory of Competitive Markets

3. Lack of Competition in U.S. Markets

I. Financial Data Relevant to Competitiveness

II. Expert Opinion on Competitiveness

III. Business Conduct as a Way to Determine Competitiveness

IV. Market Concentration as a Way to Determine Competitiveness

4. The Effects of Mega-​Mergers

5 Corporate Stakeholders

6 Outsourcing in the United States and Europe

7 Legitimization of Greed-​Heartbreak to Workers

I. The Quest for Profits

II. Harm to Workers

A. Disparity of Income and Wealth

B. Unemployment Rates

C. Retraining

III. The Experience of Two Towns

8. Belief Systems and Confirmation Bias

I. Underlying Fundamental Premises

A. The Difficulty of Determining the Truth

B. Belief Systems

C. Nonrational Human Decision-​Making

II. Economists' Faith in the Market

III. The Public's Faith in the Market

9. Recommendations

10 Postscript

I. Trickle-​Down Economics

II. Austerity

III. Privatization

IV. Belief in the Market and Mistrust of Government

Appendix A: Profitability of the Four Major Airlines

Appendix B: Methods to Determine Concentration

Appendix C: Results of Concentration Studies

Appendix D: Congressional Bills Regulating Outsourcing

Bibliography

Index.

Notes:

Also issued in print: 2021.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

0-19-757897-7

0-19-757898-5

0-19-757896-9

OCLC:

1226857154