"Robbing Peter to Pay Paul" by Samuel Evan Milner

Robbing Peter to Pay Paul Power, Profits, and Productivity in Modern America Samuel Evan Milner

Format:
Hardback
Publication date:
08 Feb 2022
ISBN:
9780300257342
Imprint:
Yale University Press
Dimensions:
344 pages: 235 x 156mm
Sales territories:
World

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Concentrated market power and the weakened sway of corporate stakeholders over management have emerged as leading concerns of American political economy. Samuel Milner provides a historical context for contemporary efforts to resolve these anxieties by examining the contest to control the distribution of corporate income during the mid-twentieth century. During this “Golden Age of American Capitalism,” apprehension about the debilitating consequences of industrial concentration fueled efforts to ensure that management would share the fruits of progress with workers, consumers, and society as a whole. Focusing on wage and price determination in steel, automobiles, and electrical equipment, Milner reveals how the management of concentrated industries understood its ability to distribute income to its stakeholders as well as why economists, courts, and public policymakers struggled to curtail the exercise of that market power at its source.

Samuel Evan Milner is a David M. Rubenstein Scholar at the University of Chicago Law School.