Summary:
The book examines the decline of competition and rise of corporate concentration in the United States, arguing that this has led to higher prices and reduced economic dynamism. It explores the influence of lobbying and regulatory capture on this trend, contrasting it with Europe's more competitive markets.
Key points:
1. Increasing Market Dominance: U.S. industries are now controlled by fewer large firms, reducing competition, which harms innovation, raises prices, and lowers wages—a shift from the competitive mid-20th century.
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