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© 2018

Monopoly Restored

How the Super-Rich Robbed Main Street

Book

Table of contents

  1. Front Matter
    Pages i-vii
  2. Jack Lawrence Luzkow
    Pages 1-12
  3. Jack Lawrence Luzkow
    Pages 13-53
  4. Jack Lawrence Luzkow
    Pages 107-131
  5. Jack Lawrence Luzkow
    Pages 133-186
  6. Jack Lawrence Luzkow
    Pages 187-239
  7. Jack Lawrence Luzkow
    Pages 241-294
  8. Jack Lawrence Luzkow
    Pages 295-341
  9. Jack Lawrence Luzkow
    Pages 343-378
  10. Back Matter
    Pages 379-384

About this book

Introduction

This book is a work of contemporary economic history focusing primarily on the US and the UK. It shows that, historically, much of the wealth of the ultra-wealthy has been based on inheritance, tax evasion, political influence, or wage theft. Today, much of the wealth of the rentier class—the super-rich—is based on income from ownership or control of scarce assets, or assets artificially made scarce. As a result, the super-rich reap much of their wealth from patents, monopolies, and subsidies. Their banks retain the right to speculate on risky derivatives, and their credit-card companies are not limited by usury laws that reduce interest rates. The super-rich have lowered (or escaped) inheritance taxes, shifted much of their income to lower taxed capital gains, practiced wage theft, fought minimum wage laws, outsourced jobs, and resorted to temps and contract labor to avoid unions and decent wages. They use tax havens where trillions of dollars remain untaxed, transfer profits of their intellectual and financial property to subsidiaries in low-tax regimes, and defend for-profit health insurance that is unaffordable and inequitable for millions. This book states in qualitative and quantitative terms how expensive the super-rich have become, why they are unsustainable for the rest of us, and what the way forward to greater economic equality may be. In sum, the super-rich are unaffordable.

Keywords

rents rentier capitalism subsidies monopoly patents intellectual property taxes tax havens inequality Wall Street inheritance tax capital gains health insurance plutoocracy Great Recession 2008 crisis healthcare

Authors and affiliations

  1. 1.Fontbonne UniversitySt. LouisUSA

About the authors

Jack Lawrence Luzkow is Professor of History at Fontbonne University, USA. His previously published works include The Great Forgetting: The Past, Present, and Future of Social Democracy and the Welfare State; What’s Left: Marxism, Utopianism, and the Revolt against History; and The Revenge of History: Why the Past Endures, A Critique of Francis Fukuyama.

Bibliographic information

  • Book Title Monopoly Restored
  • Book Subtitle How the Super-Rich Robbed Main Street
  • Authors Jack Lawrence Luzkow
  • DOI https://doi.org/10.1007/978-3-319-93994-0
  • Copyright Information The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer International Publishing AG, part of Springer Nature 2018
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-3-319-93993-3
  • Softcover ISBN 978-3-030-06767-0
  • eBook ISBN 978-3-319-93994-0
  • Edition Number 1
  • Number of Pages VII, 384
  • Number of Illustrations 0 b/w illustrations, 0 illustrations in colour
  • Topics Heterodox Economics
    Economic Policy
    Economic History
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking

Reviews

“Jack Luzkow’s meticulous roadmap shows that the power of the few plutocrats over the many citizens produces unmerited wealth that mostly belongs to the people.  That’s enough to motivate taking it back for mass well-being and civic self-respect.” (Ralph Nader, Center for Study of Responsive Law, USA)

“A masterly account of how the United States has become the rentier economy above all others on earth; how the UK follows suit in Europe; who suffers as a result; and what can (and very probably soon will) be done to remedy this.” (Danny Dorling, University of Oxford, UK)

“Luzkow documents why monopolists’ relentless assault on democracy and the rule of law is essential to their ability to loot the world with impunity, and he goes on to show how to fight back against the elite frauds.” (William  K. Black, University of Missouri-Kansas City, USA)