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The Great Leveler
Author: Brett Christophers

ISBN: 9780674504912
Format: Hardcover
Number Of Pages: 310
Published: 19 November 2015
Country of Publication: US
Dimensions (cm): 23.9 x 16.3 x 2.8
Description:
For all the turmoil that roiled financial markets during the Great Recession and its aftermath, Wall Street forecasts once again turned bullish and corporate profitability soared to unprecedented heights. How does capitalism consistently generate profits despite its vulnerability to destabilizing events that can plunge the global economy into chaos? The Great Leveler elucidates the crucial but underappreciated role of the law in regulating capitalism's rhythms of accumulation and growth.

Brett Christophers argues that capitalism requires a delicate balance between competition and monopoly. When monopolistic forces become dominant, antitrust law steps in to discourage the growth of giant corporations and restore competitiveness. When competitive forces become dominant, intellectual property law steps in to protect corporate assets and encourage investment. These two sets of laws-antitrust and intellectual property-have a pincer effect on corporate profitability, ensuring that markets become neither monopolistic, which would lead to rent-seeking and stagnation, nor overly competitive, which would drive down profits.

Christop...

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