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The Profit Paradox

How Thriving Firms Threaten the Future of Work
in: Economics
Summary:

The book examines how market power concentration among leading firms leads to reduced competition, resulting in fewer job opportunities and stagnant wages for workers. It argues that this concentration stifles innovation and economic growth, proposing solutions to restore competitive markets and ensure a more equitable distribution of prosperity.

Key points:

1. Market Power: Eeckhout claims that a few big firms dominate industries, hurting competition and controlling profits and wages.

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