The Profit Paradox

""Eeckhout documents an astonishing rise of market power across all sorts of industries since 1980. We're not just talking about the usual suspects here; Amazon, Google, Facebook, and so on. We're talking about everything from the makers of cat food to the sellers of caskets.""---Greg Rosalsky, NPR Planet Money ""A serious and significant effort to explain rising market power and its implications to decades of stagnant wages to a wider audience.""---Simcha Barkai, ProMarket ""A very good read. . . . Hooray for an economist who can write so engagingly.""---Diane Coyle, Enlightened Economist ""A sharply argued thesis that one effect of all-powerful corporations is the suppression of wages for working people across the board. . . . A provocative case, and one that those who feel undervalued in the present economy will surely appreciate."" * Kirkus Reviews * ""The book convincingly argues for some role of market power in workers’ woes. . . . At a time when antitrust frameworks are being reconsidered on both sides of the Atlantic, Eeckhout’s book is a powerful reminder that this rethink must go big.""---Romain Duval, Finance and Development ""The Profit Paradox is an easy read . . . and the tour d’horizon of issues is impressive.""---Jane Fuller, Financial World ""As economist Jan Eeckhout lays out in his new book The Profit Paradox, rapid technological change since the 1980s has improved business efficiency and dramatically increased corporate profitability. But it has also led to an increase in market power that is detrimental for people in work."" * Financial Times * ""The work combines an in-depth economic vision with examples from everyday life."" * Eurakalert * ""The book is important for several reasons. First. . . . this book takes a global view. Second, it pushes back against quite a widespread misconception that monopoly is largely an American problem and that Europeans in particular are protected by strong competition authorities. Third, it is one of those relatively rare books that combines an easy read with deep and rich scholarship from an expert in the field.""---Nicholas Shaxson, The Counterbalance ""[The Profit Paradox] successfully carries out the Herculean task of bridging the frontier of academic knowledge with the general public. . . .Not only does [Eeckhout] present novel results in economics in a friendly way without departing from academic rigour, but he also provides an agenda for policies to be implemented. Written in an engaging voice and full of concrete examples from everyday life, this book will certainly find a place in the bookshelves of economists, policymakers, and even the general public. ""---Joaquín Paseyro Mayol and Edoardo Peruzzi, Economics and Philosophy