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The Bigness Complex: Industry, Labor, and Government in the American Economy » (2nd Edition)

Book cover image of The Bigness Complex: Industry, Labor, and Government in the American Economy by Walter Adams

Authors: Walter Adams, James W. Brock
ISBN-13: 9780804749695, ISBN-10: 0804749698
Format: Paperback
Publisher: Stanford University Press
Date Published: April 2004
Edition: 2nd Edition

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Author Biography: Walter Adams

The late Walter Adams was President and Distinguished Professor of Economics at Michigan State University. James W. Brock is the Moeckel Professor of Economics at Miami University in Oxford, Ohio. Adams and Brock have also co-authored The Tobacco Wars, The Structure of American Industry, Antitrust Economics on Trial, Adam Smith Goes to Moscow, and Dangerous Pursuits: Mergers and Acquisitions in the Age of Wall Street.

Book Synopsis

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.

Table of Contents

List of tables and charts
Preface
Pt. IThe problem of power1
1Power and public policy3
2Economists and power11
Pt. IIThe apologetics of power23
3Operating efficiency29
4Innovation efficiency46
5Social efficiency63
Pt. IIIThe political economy of power : a historical perspective77
6The revolution of 1776 : American government79
7The revolution of 1776 : British economic policy88
Pt. IVCompetition and the control of power95
8The role of antitrust97
9Cartels105
10Monopoly123
11The merger problem144
12Horizontal mergers and joint ventures153
13Vertical mergers164
14Conglomerate mergers174
15The limitations of antitrust184
Pt. VGovernment intervention and private power201
16The regulation of power203
17Airlines : regulation and deregulation209
18The limits of deregulation222
19The protection of power237
20The bailout of power253
Pt. VIThe coalescence of power269
21The labor-industrial complex272
22The "sport-industrial" complex284
Pt. VIIPublic policy alternatives299
23The neo-darwinist vision301
24The neoliberal vision308
25A public philosophy316
Notes327
Index379

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