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A pioneering account of the surging global tide of market power—and how it stifles workers around the world In an era of technological progress and easy communication, it might seem reasonable to assume that the world’s working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power—the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil. The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements—acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these “superstar” companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility. A provocative investigation into how market power hurts average working people, The Profit Paradox also offers concrete solutions for fixing the problem and restoring a healthy economy.
Why most Americans’ finances improved during the worst economic contraction since the Great Depression—and the policy choices that made this possible In March 2020, economic and social life across the United States came to an abrupt halt as the country tried to slow the spread of COVID-19. In the worst economic contraction since the Great Depression, twenty-two million people lost their jobs between mid-March and mid-April of 2020. And yet somehow the finances of most Americans improved during the pandemic—savings went up, debts went down, and fewer people had trouble paying their bills. In The Pandemic Paradox, economist Scott Fulford explains this seeming contradiction, describing how the pandemic reshaped the American economy. As Americans grappled with remote work, “essential” work, and closed schools, three massive pandemic relief bills, starting with the CARES Act on March 27, 2020, managed to protect many of America’s most vulnerable. Fulford draws from the Consumer Financial Protection Bureau's “Making Ends Meet” surveys—which he helped design—to interweave macroeconomic trends in spending, saving, and debt with stories of individual Americans’ economic lives during the pandemic. We meet Winona, who quit her job to take care of her children; Marvin, who retired early and worried that his savings wouldn’t last; Lisa, whose expenses went up after her grown kids (and their dog) moved back home; and many others. What the statistics and the stories show, Fulford argues, is that a better, fairer, more productive economy is still possible. The success of pandemic relief policy proves that Americans’ economic fragility is not an unsolvable problem. But we have to choose to solve it.
The notion of paradox dates back to ancient philosophy, yet only recently have scholars started to explore this idea in organizational phenomena. Two decades ago, a handful of provocative theorists urged researchers to take seriously the study of paradox, and thereby deepen our understanding of plurality, tensions, and contradictions in organizational life. Studies of organizational paradox have grown exponentially over the past two decades, canvassing varied phenomena, methods, and levels of analysis. These studies have explored such tensions as today and tomorrow, global integration and local distinctions, collaboration and competition, self and others, mission and markets. Yet even with both the depth and breadth of interest in organizational paradoxes, key issues around definitions and application remain. This Handbook seeks to aid, engage, and fuel the expanding interest in organizational paradox. Contributions to this volume depict how paradox studies inform, and are informed, by other theoretical perspectives, while creating a resource that enables scholars to learn about and apply this lens across varied organizational phenomena. The increasing complexity, volatility, and ambiguity in our world continually surfaces paradoxical dynamics. Thus, this Handbook offers insights to scholars across organizational theory.
The Covid-19 pandemic triggered the first global public health emergency since 1918, the greatest economic crisis since the Great Depression, and the greatest geopolitical tensions in decades. Global governance mechanisms failed. Yet, East Asian countries (with caveats) managed to control Covid-19 better than most other countries and to increase their cooperation toward economic integration, despite their position on the security frontline. What explains this East Asian Covid paradox in a region devoid of strong regional institutions? This Element argues that high levels of institutional preparation, social cohesion, and global strategic reinforcement in a context of situational convergence explain the results. It relies on high-level interviews and case studies across the region.
Become a next generation leader—rich in emotional and social intelligence and orchestrating outstanding collaborative results—by mastering these eight status quo-shattering paradoxes. The Eight Paradoxes of Great Leadership unpacks the fresh strategies and new mindset required today from a next generation leader. Author Dr. Tim Elmore helps leaders of all kinds navigate increasingly complex, rapidly changing environments, as well as manage teams who bring a range of new demands and expectations to the workplace that haven’t been seen even one generation prior. After working alongside John C. Maxwell for twenty years, Tim offers counter-intuitive paradoxes that, when practiced, enable today’s leader to differentiate themselves and better connect with their team and customers. The book furnishes ideas that equip leaders to inspire team members in a way a paycheck never could. Having trained hundreds of thousands of young professionals to develop into leaders—Dr. Elmore shares the secrets of next generation leaders who have practiced the unique paradoxes outlined in this book and inspired their team members in a way that a paycheck never could. In The Eight Paradoxes of Great Leadership, readers will: Learn how today’s team members require a combination of different qualities from their leaders than they did in even the recent past; Grasp the importance of eight key paradoxes that are critical for next generation leaders to put into practice right now; Be inspired by historic and modern-day leaders who lived the eight paradoxes; and Understand how they too can lead with the eight paradoxes, guiding them to emotional and social intelligence that resonates with their teams and leads to outstanding collaborative results.
Paradoxes, contrary propositions that are not contestable separately but that are inconsistent when conjoined, constitute a pervasive feature of contemporary organizational life. When contradictory elements are constituted as equally important in day-to-day work, organizational actors frequently experience acute tensions in engaging with these contradictions. This Element discusses the presence of paradoxes in the life of organizations, introduces the reader to the notion of paradox in theory and practice, and distinguishes paradox and adjacent conceptualizations such as trade-off, dilemma, dialectics, ambiguity, etc. This Element also covers what triggers paradoxes and how they come into being whereby the Element distinguishes latent and salient paradoxes and how salient paradoxes are managed. This Element discusses key methodological challenges and possibilities of studying, teaching, and applying paradoxes and concludes by considering some future research questions left unexplored in the field.
Why the news about the global decline of infectious diseases is not all good. Plagues and parasites have played a central role in world affairs, shaping the evolution of the modern state, the growth of cities, and the disparate fortunes of national economies. This book tells that story, but it is not about the resurgence of pestilence. It is the story of its decline. For the first time in recorded history, virus, bacteria, and other infectious diseases are not the leading cause of death or disability in any region of the world. People are living longer, and fewer mothers are giving birth to many children in the hopes that some might survive. And yet, the news is not all good. Recent reductions in infectious disease have not been accompanied by the same improvements in income, job opportunities, and governance that occurred with these changes in wealthier countries decades ago. There have also been unintended consequences. In this book, Thomas Bollyky explores the paradox in our fight against infectious disease: the world is getting healthier in ways that should make us worry. Bollyky interweaves a grand historical narrative about the rise and fall of plagues in human societies with contemporary case studies of the consequences. Bollyky visits Dhaka—one of the most densely populated places on the planet—to show how low-cost health tools helped enable the phenomenon of poor world megacities. He visits China and Kenya to illustrate how dramatic declines in plagues have affected national economies. Bollyky traces the role of infectious disease in the migrations from Ireland before the potato famine and to Europe from Africa and elsewhere today. Historic health achievements are remaking a world that is both worrisome and full of opportunities. Whether the peril or promise of that progress prevails, Bollyky explains, depends on what we do next. A Council on Foreign Relations Book
This Element provides an overview of cultural entrepreneurship scholarship and seeks to lay the foundation for a broader and more integrative research agenda at the interface of organization theory and entrepreneurship. Its scholarly agenda includes a range of phenomena from the legitimation of new ventures, to the construction of novel or alternative organizational or collective identities, and, at even more macro levels, to the emergence of new entrepreneurial possibilities and market categories. Michael Lounsbury and Mary Ann Glynn develop novel theoretical arguments and discuss the implications for mainstream entrepreneurship research, focusing on the study of entrepreneurial processes and possibilities.
The driving cultural force of that form of life we call ‘modern’ is the desire to make the world controllable. Yet it is only in encountering the uncontrollable that we really experience the world – only then do we feel touched, moved and alive. A world that is fully known, in which everything has been planned and mastered, would be a dead world. Our lives are played out on the border between what we can control and that which lies outside our control. But because we late-modern human beings seek to make the world controllable, we tend to encounter the world as a series of objects that we have to conquer, master or exploit. And precisely because of this, ‘life,’ the experience of feeling alive and truly encountering the world, always seems to elude us. This in turn leads to frustration, anger and even despair, which then manifest themselves in, among other things, acts of impotent political aggression. For Rosa, to encounter the world and achieve resonance with it requires us to be open to that which extends beyond our control. The outcome of this process cannot be predicted, and this is why moments of resonance are always concomitant with moments of uncontrollability. This short book – the sequel to Rosa’s path-breaking work on social acceleration and resonance – will be of great interest students and scholars in sociology and the social sciences and to anyone concerned with the nature of modern social life.
We are at the beginning of the next major disruptive cycle caused by computing. In transportation, the term Autonomous, Connected, Electric, and Shared (ACES) has been coined to represent the enormous innovations enabled by underlying electronics technology. The benefits of ACES vehicles range from improved safety, reduced congestion, and lower stress for car occupants to social inclusion, lower emissions, and better road utilization due to optimal integration of private and public transport. ACES is creating a new automotive and industrial ecosystem that will disrupt not only the technical development of transportation but also the management and supply chain of the industry. Disruptions caused by ACES are prompted by not only technology but also by a shift from a traditional to a software-based mindset, embodied by the arrival of a new generation of automotive industry workforce. In Autonomous, Connected, Electric and Shared Vehicles: Disrupting the Automotive and Mobility Sectors, Umar Zakir Abdul Hamid provides an overview of ACES technology for cross-disciplinary audiences, including researchers, academics, and automotive professionals. Hamid bridges the gap among the book’s varied audiences, exploring the development and deployment of ACES vehicles and the disruptions, challenges, and potential benefits of this new technology. Topics covered include: • Recent trends and progress stimulating ACES growth and development • ACES vehicle overview • Automotive and mobility industry disruptions caused by ACES • Challenges of ACES implementation • Potential benefits of the ACES ecosystem While market introduction of ACES vehicles that are fully automated and capable of unsupervised driving in an unstructured environment is still a long-term goal, the future of mobility will be ACES, and the transportation industry must prepare for this transition. Autonomous, Connected, Electric and Shared Vehicles is a necessary resource for anyone interested in the successful and reliable implementation of ACES. “ACES are destined to be a game changers on the roads, altering the face of mobility.” Daniel Watzenig, Professor Graz University of Technology, Austria