Download The Winner-Take-All Society: Why the Few at the Top Get So by Robert H. Frank PDF

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By Robert H. Frank

Chosen by means of company Week as one of many 10 most sensible enterprise books of the 12 months, this article is "a significant contribution to the controversy concerning the reasons and effects of inequality in America."--The ny instances booklet evaluation.

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28 The Winner-Take-All Society Various geopolitical entities also compete in winner-take-all mar kets. Rival political candidates are an obvious example. State and local governments engage in winner-take-all rivalries as well. When the fed eral government announced its decision to construct a multibilliondollar superconducting supercollider, twenty-five states became embroiled in a competition to persuade federal bureaucrats that theirs was the most attractive jurisdiction in which to locate the facility.

And digital technology battled analog technology in the race to bring high-definition television to market. Fashions, too, often compete in winner-take-all markets. In the world of haute couture, designers often stake their survival on con flicting hunches about hem lengths and lapel widths. And executives at General Motors likewise took a financial leap of faith when they brought out their 1958 Chevrolet, the first American car in several years that lacked conspicuous tail fins. But probably no group is more vulnerable to the whims of fashion than the entrepreneurs who com pete in the market for trendy nightclubs in cities like New "fork.

20 The Winner-Take-All Society from participants' failure to take account of the costs they impose on others. In this sense these problems are much like those associated with pollution, and our experience with pollution control offers useful guidance about how best to curb the waste that arises in winner-takeall markets. Thebestremedies seldom involve bureaucratic attempts to regulate behavior directly. Rather, alternative policies that require individuals to take into account the full costs of their actions have generally proved simpler, more effective, and less intrusive.

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