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John Drobak’s “Rethinking Market Regulation” is a timely and much needed rebuttal to the economic analysis that has justified decades of corporate outsourcing of millions of jobs and the legitimization of massive executive compensation in our country during hard times for many employees. Drobak, contrary to Wall Street Myth, fervently believes greed is not good and urges several thoughtful proposals for change notably including adding labor representation to corporate boards and creating a new Federal review board for mergers to assess the expected displacement of labor.
A subversive approach to economic theory, “Rethinking Market Regulation” explores the devastating impact of globalization and a lack of governmental regulation on the U.S. workforce. It challenges two key economic principles: that markets are competitive, making government intervention unnecessary, and the claim that corporations exist for the benefit of their shareholders, but not for other stak