The Winner-Take-All Society: Why the Few at the Top Get So Much More Than the Rest of Us

Customer Reviews:

Winning isn't everything..........2007-05-06

Although this book is a little outdated, the authors make a convincing case as to the spiraling salaries of Fortune 500 CEO's, sought-after-free-agent-superstar-athletes, box-office movie stars and the like. Winning begets winning, that's the gold standard of life. "In order for top CEO's to capture their full economic value, a second factor must also be present-namely, there must be open competition for their services." For what high level profession doesn't this rule apply? Pursuit of success is intrinsically woven into the tapestry of this nation and history has always been faithful to the winner; thus, the past is a recording of HIS STORY! It's unfortunate that vanity prevents so many people from accurately assessing their talents, but I don't thinks it calls for the reshaping of national policy as the authors suggest.

Brilliant book.......2007-01-09

Brilliant book, though the practical outlines of reversing the trends that drive our society towards a winner-takes-all-society may not be easy, or simply feasible. The argumentation is very solid and based on different literature, which makes the bibliography equally interesting. Though the numbers are outdated, one can only see that in current society the numbers for the winners have only - and extremely - augmented. Which proves the book was right but the ideas haven't made the political agenda.

A thought-provoking book that goes steadily downhill.......2006-09-25

The first half to 2/3 of this book makes some very good points that have escaped most of the popular discussions of economic issues. The authors point out, persuasively in my opinion, that certain industries and professions have "winner-take-all" characteristics that pervert the usual reward/punishment consequences of free-market economic policies.

The markets for which the authors have the strongest evidence of "winner take all" characteristics are presented earliest. As the book goes on, however, it falls into the same pattern of thousands of books before it: the authors have made one important and interesting observation, and they proceed to claim that virtually everything in the world that they disapprove of can be accounted for by this one observation. They assume, without plausible evidence, that the declines in education and popular culture are the direct consequence of winner-take-all markets. In a couple of cases they even admit that the evidence for winner-take-all characteristics in a particular industry or occupation is scanty or even nonexistent. But that doesn't prevent them from offering further arguments and policy recommendations based on the assumption that every one of these markets is dominated by winner-take-all distortions.

By the end of this book, where the authors make policy recommendations, they come close to leaving reality behind. They make these recommendations based on the assumptions that the **entire economy** is dominated by winner-take-all characteristics - a proposition for which they offer no evidence whatever. It is hard to escape the impression that their goal in writing this book was to justify a more socialistic economic policy on the part of the government, rather than to evenhandedly examine and explain an important issue.

In short: read the first of half of this book, because it makes a lot of worthwhile points and observations. Read most of the rest if you're retired or have a lot of free time. Skip the last chapter, with their policy recommendations.

Interesting Book by 2 Top Notch Economists.......2006-08-12

This book basically says that the rat race is harmful and we should constrain spending, because happiness isn't really what we have, but what our neighbor has; therefore, by creating incentives to spend less, we can create a trickle-down effect of less consumption and have more time and less coarseness in culture. The only problem is that the authors--as bright as they are--do not spend much time explaining exactly how a consumption tax would work. One gets the feeling that they felt going into specific details was inappropriate for a mass-market book. Along the way, we also learn about fun variations on game theory, the predecessor to Paris Hilton, and some prescient warnings on steroids. Despite the negative comments about lawyers in the book, I enjoyed it very much. The author reminds his readers, through facts and research, to be more humble and to remember that because the number of top positions is few in the U.S., it cannot be the case that all our dreams will be realized. While depressing on the surface, one may wish the participants on American Idol had read this book before appearing on national television.

An Explanation for the Growing Economic Inequality.......2002-10-02

The basic premise of this book is that the U.S. has too many markets where the "star" or top performer gets a large percentage of the proceeds. Examples are the sports market, the movie star market and the publishing market; The reasons given are;

-Technology. National distribution channels such as network television make it easier for an individual to penetrate the market. For example, at one time villages and towns had their own musicians. Now a singer can make a CD and sell it nationally.

-Falling transportation and tariff costs. Goods have gotten lighter. It is easier to send computer discs all over the world than books. CD's are lighter than phonograph records

-- Mental shelf space constraints. We have a limit to the number of items we can keep in our head..."the amount of information we can actually use is thus a declining fraction of the total information available."

-Weakening of regulations and civil society. At one time, informal and formal rules limited the winner take all markets. Now, like free agents in baseball, the top performers have the leverage to demand high prices.

-Self-reinforcing processes. This is another way of saying "success begets success." For example, a sales person does well and gets bigger customers. A person does well and the word of mouth referral causes them to saturate the market. This virtuous cycle increases the income and power of top performers.

The author argues that winner take all markets are not good for society. People are unrealistically optimistic about their own chances of winning "a prize." Thus they are siphoned off from other productive endeavors.

This book was helpful to me in understanding today's economy and job market. If anything, the winners are doing better than ever today, long after the book was published. Just take a look at the latest article on CEO salaries.

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The Winner-Take-All Society. (book reviews): An article from: Southern Economic Journal
Douglas M. Walker
Manufacturer: Southern Economic Association
ProductGroup: Book
Binding: Digital
ASIN: B00096NZHU
Release Date: 2005-07-28

Book Description

This digital document is an article from Southern Economic Journal, published by Southern Economic Association on October 1, 1996. The length of the article is 1031 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: The Winner-Take-All Society. (book reviews)
Author: Douglas M. Walker
Publication: Southern Economic Journal (Refereed)
Date: October 1, 1996
Publisher: Southern Economic Association
Volume: v63 Issue: n2 Page: p550(2)

Article Type: Book Review

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The Winner-Take-All Society.(Brief Article): An article from: The Futurist

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The Winner-Take-All Society.(Brief Article): An article from: The Futurist
Lane Jennings
Manufacturer: World Future Society
ProductGroup: Book
Binding: Digital
ASIN: B00096JXHG
Release Date: 2005-07-28

Book Description

This digital document is an article from The Futurist, published by World Future Society on March 1, 1996. The length of the article is 457 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: The Winner-Take-All Society.(Brief Article)
Author: Lane Jennings
Publication: The Futurist (Magazine/Journal)
Date: March 1, 1996
Publisher: World Future Society
Volume: v30 Issue: n2 Page: p55(2)

Article Type: Book Review, Brief Article

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The Winner-Take-all Society
Robert H. And Cook, Philip J. Frank
Manufacturer: Free Press
ProductGroup: Book
Binding: Paperback
ASIN: B000O8T6YE

The Winner-Take-All Society: Why the Few at the Top Get So Much More Than the Rest of Us

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The Winner-Take-All Society: Why the Few at the Top Get So Much More Than the Rest of Us
Robert H. Cook, Philip J. Frank
Manufacturer: Penguin (Non-Classics)
ProductGroup: Book
Binding: Paperback
ASIN: B000OJ8F1I

Book Description

No other text conveys such a passion for this exciting and profoundly important discipline. This comprehensive text meets all AACSB curriculum standards, while providing excellent CPA exam preparation. A focus on human conflict makes the book sparkle. Innovative, story-telling pedagogy; fascinating cases; and business applications create student interest, while cases are summarized in the authors' own words. The result is a business law text that is authoritative and accurate, yet a pleasure to read.

Customer Reviews:

One of the Best Business Law Texts.......2000-01-12

I have been teaching Business Law for 12 years and I practiced law as a trial attorney for about 20 years before that. During this time, I have reviewed and used many different text and without a doubt, this is the best. Specifically, the authors make this subject of Business Law extremely interesting through this very readable text. It uses great examples and cases. In many places, the authors use a light-hearted approach in covering the subject which makes this text that much more readable. I also find the ancillary material excellent.

Comprehensive, student friendly, written in people language........1999-08-10

Began using this text over two years ago. I switched from a subject solid, albeit legally intimidating test that I had used for over seven years. Immediately I saw positive results: students were reading with greater comprehension, and their class participation increased. Recently I had the text customized for use in my two course sequence in business law. The customized paperback books maximize the full potential of the text for my students, as well as providing some economic benefit for the student. In the future I would like to have the opportunity to be a reviewer for future edition revisions.

Book Description

While other industrialized and developing countries look towards Japan as an economic model, the political, cultural, and social arrangements that have so far allowed Japan to succeed are eroding. In particular, Japan faces a system of industrial relations that places great strain on all of Japanese society. In The Postwar Japanese System, William Tabb distinguishes between those aspects of Japanese success that can and cannot be transferred successfully to help in the revitalization of the American economy. The author discusses Japanese economic history from before the Meiji Restoration to the present, and looks at Japanese politics, state-corporate relations, the labor relations system in Japan and the nature of work as experienced by Japanese employees. He examines the organization of the Japanese corporation versus the American corporation, industrial policy, education, urban and regional reorganization, and Japan's role in the world today (and tomorrow). And, Tabb thoughtfully explores the fundamental social, political, and economic transitions the Japanese are currently experiencing. The Postwar Japanese System succeeds in placing the economic "miracle" in its proper social and political framework. A broad, intelligent overview of the Japanese political economy, the book suggests important implications for the United States in the story of Japan's prosperity and current distress. It will be a key resource for all those interested in Japanese society.

The Postwar Japanese System: Cultural Economy and Economic Transformation.: An article from: Independent Review

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The Postwar Japanese System: Cultural Economy and Economic Transformation.: An article from: Independent Review
Yuzo Murayama
Manufacturer: Independent Institute
ProductGroup: Book
Binding: Digital

General | Politics | Nonfiction | Subjects | Books

Book Description

This digital document is an article from Independent Review, published by Independent Institute on March 22, 1997. The length of the article is 1315 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: The Postwar Japanese System: Cultural Economy and Economic Transformation.
Author: Yuzo Murayama
Publication: Independent Review (Refereed)
Date: March 22, 1997
Publisher: Independent Institute
Volume: v1 Issue: n4 Page: p618(3)

Article Type: Book Review

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The Postwar Japanese System: Cultural Economy and Economic Transformation

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The Postwar Japanese System: Cultural Economy and Economic Transformation
William K. Tabb
Manufacturer: Oxford University Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OKL1RM

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THE POSTWAR JAPANESE SYSTEM: CULTURAL ECONOMY AND ECONOMIC TRANSFORMATION.
William K. Tabb
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback
ASIN: B000OKJA6G

Book Description

In his new book, Ernest Preeg analyzes international trade and investment in the 1990s and lays out a comprehensive U.S. trade strategy for the uncertain period ahead. He examines the influence of the World Trade Organization (WTO) and argues that economic globalization is beneficial to the U.S. economy in the short- to medium-term while raising important questions about national sovereignty and security over the longer term. Preeg believes regional free trade agreements will soon encompass the majority of world trade, but they can conflict with the WTO's multilateral objectives. The central challenge for U.S. trade strategy, then, is to integrate the now largely separate multilateral and regional tracks of the world trading system.

The first essay assesses U.S. interests in economic globalization, the second examines recent steps toward free trade at the multilateral and regional levels, and the next three offer an in-depth critique of U.S. regional free trade objectives in the Americas, across the Pacific, and possibly with Europe. The final essay presents a multilateral/regional synthesis for going from here to free trade over the coming decade.

From Here to Free Trade : Essays in Post-Uruguay Round Trade Strategy

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From Here to Free Trade : Essays in Post-Uruguay Round Trade Strategy
Ernest H. Preeg
Manufacturer: University Of Chicago Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OPALO6

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From Here to Free Trade: Essays in Post-Uruguay Round Trade Strategy
Ernest H. Preeg
Manufacturer: University Of Chicago Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OPALG4

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