By Hope Katz Gibbs
Editor and Publisher
Be Inkandescent magazine
BusinessWeek’s chief economist Michael Mandel said Cornered: The New Monopoly Capitalism and the Economics of Destruction is “A real eye-opener for America’s business community…. This book is essential to understanding how we got into our current mess.”
Ha Joon Chang, winner of Leontief Prize in economics, and the author of Bad Samaritans, said it is “Razor-sharp and chilling. A truly groundbreaking and eye-opening work that everyone interested in understanding how the world really operates should read.”
“This book is about power,” says Tom Hartman on www.buzzflash.com. “It documents how practices that were illegal at the opening of the Reagan administration have not only been legalized but used extensively to consolidate economic and political power in a way that threatens our very republic. It’s almost impossible to overstate its importance.”
And Nicholas Gvosdev, editor of “The National Interest,” said: “Lynn is emerging as our generation’s Peter Drucker, able to move seamlessly and gracefully from the micro and the mechanical to the strategic and the geopolitical.”
Great reviews for the second book by Barry, who is a regular Harper’s and Financial Times contributor.
In his first book, End of the Line: The rise and coming fall of the global corporation, Barry argued that the problem with globalized outsourcing is that “a breakdown anywhere increasingly means a breakdown everywhere,” as when a 1999 earthquake in Taiwan halted semiconductor manufacturing for a week, negatively affecting American electronics firms.
“Cornered” paints a similarly alarming picture: most of our public debates about globalization, competitiveness, creative destruction, and risky finance are nothing more than a cover for the widespread consolidation of power in nearly every imaginable sector of the American economy.
“With ‘Cornered’ I try to strip the camouflage from the secret world of 21st century monopolies—neo-feudalist empires whose sheer size, vast resources, and immense political power enable them to control virtually every major industry in America, in an increasingly authoritarian manner,” Barry explains. “I reveal how these massive juggernauts, which would have been illegal just thirty years ago, came into being; how they have destroyed or devoured their competition; and how they collude with each other to maintain their power and create the illusion of open, competitive markets.”
Barry notes that the Obama administration has promised more aggressive enforcement on antitrust issues. “I think they are missing the forest for the trees. For decades, the federal government has encouraged companies to buy each other up, outsource all their production, and make their profits by leveraging their marketshare. It will take more than a lawsuit or two to overthrow America’s corporatist oligarchy and restore a model of capitalism that protects our rights as property holders and citizens.”
The book offers:
- Stories of real people and real industries show how monopolies threaten independent businesses, squelch innovation, degrade the quality and safety of products, destabilize vital industrial and financial systems, and destroy the fabric of democracy.
- Avoids the partisan cant that has poisoned virtually every important American debate in recent years.
- Demonstrates how the drive for “always lower prices” makes your job disappear, puts your small business out of business, and turns dreams of entrepreneurial success into impossible fantasies.
Read all about it
View the article Barry wrote, entitled “American small businesses needn’t go extinct,” in the Feb. 21 issue of The Washington Post.
He has also been featured here:
C-SPAN, Washington Journal
March 8, 2010
The Wall Street Journal
“A New Age of Monopolies”
March 2, 2010
The New York Times
“Why Regulations Might Actually Create Jobs”
February 26, 2010
Where We Blog
“Can we Create Jobs in an Economy Controlled by a Few?”
February 17, 2010
February 14, 2010
The Huffington Post
“William Petrocelli: Book Alert! Monopolies on the Loose!”
February 10, 2010
About Barry Lynn
Barry C. Lynn is an American journalist, writer, and a senior fellow at the New America Foundation think tank in Washington, DC. He has written extensively on globalization, economics, and politics for publications ranging from The Financial Times and Forbes to Mother Jones and the Harvard Business Review.
He has been a reporter for the Associated Press and Agence France-Presse. Prior to joining New America in 2001, Barry was the executive editor of Global Business, a monthly magazine targeted at the managers of multi-national enterprises.
Learn more about him at www.barryclynn.com.