Transaction Man

By Nicholas Lemann,

Book cover of Transaction Man: The Rise of the Deal and the Decline of the American Dream

Book description

An Amazon Best History Book of 2019

"A splendid and beautifully written illustration of the tremendous importance public policy has for the daily lives of ordinary people." —Ryan Cooper, Washington Monthly

Over the last generation, the United States has undergone seismic changes. Stable institutions have given way to frictionless transactions,…

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Why read it?

1 author picked Transaction Man as one of their favorite books. Why do they recommend it?

This book is the most readable treatment I’ve encountered of a very complicated and theoretical set of ideas about how corporations have changed—not only in their legal structure but as social creatures—in the last century. Lemann makes the difficult theories of thinkers like Adolf Berle, John Kenneth Galbraith, Milton Friedman, and Michael Jensen easy to understand and fun to read about. And in the process, he explains how corporations lost their “souls”—how we reached a point where companies are finance-obsessed, detached from their communities, and fixated on short-term profits and not long-term stability.

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