Get Your Free Audiobook

After 30 days, Audible is ₹199/mo. Cancel anytime.

OR

Publisher's Summary

The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook, and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed internet, health insurance, medical care, mortgage title insurance, social networks, internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their paycheck to monopolists and oligopolists. 

The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages, and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why the US is becoming a more unequal society, why economic growth is anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why workers are losing out. 

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio. 

©2019 Jonathan Tepper and Denise Hearn (P)2019 Gildan Media

What listeners say about The Myth of Capitalism

Average Customer Ratings
Overall
  • 4.5 out of 5 stars
  • 5 Stars
    5
  • 4 Stars
    5
  • 3 Stars
    0
  • 2 Stars
    1
  • 1 Stars
    0
Performance
  • 4.5 out of 5 stars
  • 5 Stars
    8
  • 4 Stars
    2
  • 3 Stars
    1
  • 2 Stars
    0
  • 1 Stars
    0
Story
  • 4.5 out of 5 stars
  • 5 Stars
    6
  • 4 Stars
    4
  • 3 Stars
    0
  • 2 Stars
    1
  • 1 Stars
    0

Reviews - Please select the tabs below to change the source of reviews.

Sort by:
Filter by:
  • Overall
    4 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    4 out of 5 stars

Well researched but solutions could've been better

The author defines the problem very well but there are a few things that could've been better.
1. More examples from the rest of the world and not just the US
2. There's a bit of a false equivalency between the far right and the left movements in the US
3. I was expecting the author to spend more time and provide more examples to how the problem of monopoly can be fixed. It was wound up in about 30 mins.

Sort by:
Filter by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • Eric Baird
  • 29-05-19

Read and then take action

Considering I bought this book through a company aquired by Amazon, I am guilty as charged. I've been a huge advocate for each and everyone of the companies now dominating todays market. For example I bought an Amazon shredder which was essentially knock off of a popular shredder made by an independent company advertising on Amazon. More concerning is the huge drop of internet start ups we are seeing in San Francisco. Its like the money has dried up. Bottom line is these companies are not bad. but any concentration of power is. This is a good sjort read with lots of information. Pass it along

6 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    4 out of 5 stars
  • C. Armstrong
  • 21-06-19

Fills in the gaps where Milton Friedman leaves off

This book could easily be titled "The legal tactics big businesses use to make themselves harder to compete with in a free enterprise market." That said, this is an eye-opening and thought provoking book, featuring large amounts of research findings that are shared in a way that is not overly pretentious. This book fills in the gaps where Milton Friedman & the Chicago School's economic theories leave off. Many folks can feel there is a problem with the system today, with prices, inflation, and cost of living on the up and up, all the while inequality continues to rise. Friedman's teachings about entrepreneurial freedom and the power of the free market to regulate itself through competition are powerful, but Tepper argues this is only possible to the extent where there is a fair playing field. He makes the case for what he terms is a "distorted version of capitalism" which serves to perpetuate monopolies, duopolies, and oligopolies.

Half of the book seems focused on Big Tech, which is great because it's a field I knew little about going into this read. The narrator was also very easy to listen to, making a very dense subject matter much more interesting.

4 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • Fear and Loathing DC
  • 30-05-20

Easy to recommend

Overall, its a great book. Understand that it tries to cover a lot of ground in a very short amount of space. The early chapters operate as a sort of primer on antitrust issues for the uninitiated, and middle of the book on does an extremely broad sweep of specific sectors, critiques and solutions. The choice to go broad means any one of these topics is shallow and where you're familiar with them you'll find yourself either filling in arguments yourself or poking holes, but I think it's enough for the purpose and there is a ton of strong arguments being made about why this isnt sector specific but a massive societal problem that's bigger than you think. Their proposals also dont come with much in the way of deep explanation. All these critiques being aired, the book reads quickly and was enjoyable, points out and makes arguments for maybe the most critical issues facing us right now and will give you plenty to think about. Easy to recommend, perhaps the best book for non-antitrust attorneys, and attorneys alike.

3 people found this helpful

  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    4 out of 5 stars
  • Torrance Abell
  • 08-09-19

Flawed, but still worth a read.

A lot of good insight. Author has no understanding of several industries like banking and some aspects of tech as it relates to consumers. It is almost as clueless as Warren. Rather political toward the end of the book, but on the whole, a worthwhile read.

3 people found this helpful

  • Overall
    3 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    2 out of 5 stars
  • JLP
  • 21-08-19

Interesting but too repetitive

This is an interesting and scary book, but the author’s repetitiveness is annoying. His editor should have caught this and made changes.

2 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • Amazon Customer
  • 05-03-21

Read this book before it is banned

This is one of the best books that I have ever read. It is balanced, objective and approachable. It mixes economics, history and sociology seamlessly. The order of the book couldn't be better. it explains the problems and then gives specific examples. the summary gives practical short term and long term solutions.

This book doesn't just point fingers and divide people. Individual responsibility and personal choices are included in explanations of cause and effect.

This book could save America by bringing the left and right together around common goals. The by-product of following the suggestions made in this book would be a fairer country where innovators are rewarded and small businesses thrive.

1 person found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • jerome m.
  • 25-06-19

So, It Has Come To This?

So many people will not vote. Corporations will not change willingly. Politicians are owned by the corporations. Time for people to get out the pitchforks?

1 person found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • Ivanhoe
  • 06-02-21

Excellent analysis of a global problem

Tepper has made an excellent analysis of what is wrong with capitalistic system in the US of today. But the problem is not only there, it is a global problem. The sad thing is that politicians on both side of the aisle seem to be uninterested in taking actions towards their big corporate sponsors which in most cases are encumbents protecting monopolistic or near monopolistic market positions. One good example is the finance and banking industry where the regulators are issuing hundred thousand pages of Basel regulations which pratically make it impossible to start or run a small finance company or bank. The large institutions are just paying lip service to the critism of this overeagerness of heavy handed regulations knowing that for each new regulations implemented their dominant market positions get ever more unassailable. Who is paying the price for this effectice reduction of competition? You, dear consumer. The loss to consumers and society in general due overregulations will be many times the losses incurred by the financial crisis. Bear in mind that the US Treasurys investments in saving banks and finance companies were paid back with interest in 2014. The global corrision of competitive forces will cost tax payers and the common man many times the loss of output due the financial crisis. It is now more than 11 years since financial crisis ended and there does not seem to be any stop to the regulatory tsunami hitting e.g. the finance and banking sector.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • Tristan
  • 27-11-20

Possibly the most important book I have read.

I hope this book is widely read. So many people sense something is wrong with how the economy works today, but they often misdiagnose the problems, leading to counter-productive policy and populist election outcomes. This book makes a convincing case that people should be angry, first and foremost, at market concentration and anti-competitive behaviour, which leads to stagnant wages, inequality, corporate indifference to public anger, and many, many other problems. The book ends with clear, concise recommendations for how to fix the problem.

  • Overall
    2 out of 5 stars
  • Performance
    2 out of 5 stars
  • Story
    2 out of 5 stars
  • Hakan
  • 22-07-20

repetitive

Just tell how oligopoly collude to make profit. Alots of example of companies within different sector=repetitive.

Sort by:
Filter by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • O. Buraimoh
  • 21-07-19

Well researched

Amazingly well researched, highly engaging and interesting listen. The way they tore apart the Thomas Piketty book made me laugh out loud.

1 person found this helpful

  • Overall
    4 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    4 out of 5 stars
  • T S
  • 06-10-19

Interesting points

Overall a thought-provoking look at the current socioeconomic issues of our time, although very USA-centric. Clearly has disdained for left-wing issues, could perhaps benefit from considering them in more depth- their points betray an ignorance of what was actually theorised given their reliance on typical generalisations in US politics.

Sort by:
Filter by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
  • Anonymous User
  • 06-01-20

Fascinating, but extremely US focused

Got through this really quickly surprisingly. Normally I would buy this via Kindle to read but the format was still enjoyable. It's a great window into how debaucherous the US system is right now and explaining why people are angry. That being said, if you live outside of USA you may find it too American unless you follow economics there closely. Very well researched and great examples. Sometimes quite preachy and ranting but deserves to be talked about.