Big Business – Tyler Cowen
St. Martin's Press | Hardcover | April 9, 2019
With a calm, cool, MythBuster-esc approach, economist Tyler Cowen argues that big businesses like Google, Apple, Facebook, Amazon, Walmart, and so on don’t deserve all the hate we give them and the constant backlash they get from the media. In the midst of political uncertainty and social unrest, Cowen adamantly contests that business is one of the few steadfast things people can rely on and with each chapter builds a case for why big businesses are more innovative, collaborative, and tolerant than ever before. He reminds us how—like it or not—we are largely dependent on big business for producing, transporting, and maintaining our food, shelter, communication, transportation, and much more.
The book is a cleverly organized into a series of questions that skeptics—including (but not limited to) young people, Bernie Sanders supporters, Trump supporters, every day pessimists, and the media—have raised about big business. Cowen takes these claims and offers counterclaims of his own, covering topics such as fraud, CEO pay, monopolies, privacy policies, and crony capitalism. Some of his strongest—and most relatable—moments are when he is discussing what psychological and social benefits being part of the workforce has to offer, as well as his argument for why CEOs are paid an excessive amount of money. And although readers may remain unconvinced, the way Cowen unpacks his reasoning is so quiet and disarming that, at the very least, they will probably be willing to hear him out. There are moments where Cowen does concede there are flaws. In particular, he acknowledges the issues with America’s healthcare system and he also cautions that serious privacy issues could arise if tech companies are allowed to continue to collect and share data the way that they do—not to mention how Alexa and other such devices may be able to invade our privacy in the no-longer-distant future.
While the book is fairly accessible, there will be moments where readers' eyes glaze over faster than a couple of donuts due to all the economic name dropping and lingo and case studies in certain chapters. And it is unlikely that this love letter will change people’s stances on big business. However, it will probably be a conversation starter, encourage people to do some more of their own digging, and keep an eye on both the short- and long-term pros and cons of the current business practices, innovations, and trends.
