The Gridlock Economy
How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives
By (author) Michael Heller
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Gridlock Economy by Michael Heller
Book Description25 new runways would eliminate most air travel delays in America. Why can't we build them? 50 patent owners are blocking a major drug maker from creating a cancer cure. Why won't they get out of the way? 90% of our broadcast spectrum sits idle while American cell phone service lags far behind Japan's and Korea's. Why are we wasting our airwaves? 98% of African American-owned farms have been sold off over the last century. Why can't we stop the loss? All these problems are really the same problem-one whose solution would jump-start innovation, release trillions in productivity, and help revive our slumping economy. Every so often an idea comes along that transforms our understanding of how the world works. Michael Heller has discovered a market dynamic that no one knew existed. Usually, private ownership creates wealth, but too much ownership has the opposite effect-it creates gridlock. When too many people own pieces of one thing, whether a physical or intellectual resource, cooperation breaks down, wealth disappears, and everybody loses. Heller's paradox is at the center of The Gridlock Economy. Today's leading edge of innovation-in high tech, biomedicine, music, film, real estate-requires the assembly of separately owned resources. But gridlock is blocking economic growth all along the wealth creation frontier. A thousand scholars have applied and verified Heller's paradox. Now he takes readers on a lively tour of gridlock battlegrounds. Heller zips from medieval robber barons to modern-day broadcast spectrum squatters; from Mississippi courts selling African-American family farms to troubling New York City land confiscations; and from Chesapeake Bay oyster pirates to today's gene patent and music mash-up outlaws. Each tale offers insights into how to spot gridlock in operation and how we can overcome it. The Gridlock Economy is a startling, accessible biography of an idea. Nothing is inevitable about gridlock. It results from choices we make about how to control the resources we value most. We can unlock the grid; this book shows us where to start.
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Book DetailsISBN: 9780465029167
(235mm x 156mm x 25mm)
Imprint: Basic Books
Publisher: The Perseus Books Group
Publish Date: 17-Jun-2008
Country of Publication: United States
Books By Author Michael Heller
Dianoia, Paperback (June 2016)
Making use of poetry, prose and graphics, the author articulates with precision and clarity the lyric/anti-lyric boundaries of contemporary life exploring the nature of violence, politics, art, and the literary imagination.
London Clerical Workers, 1880-1914, Paperback (January 2016)
This study is based on a wide range of business sources as well as newspapers, journals, novels and oral history, allowing Heller to put forward a new interpretation of working conditions for London clerks, highlighting the ways in which clerical work changed and modernized over this period.
Infinity, Paperback (January 2014)
A dozen world-renowned researchers explore the concept of infinity through the prism of mathematics and beyond.
Gridlock Economy, Paperback (March 2010)» View all books by Michael Heller
Usually, private ownership creates wealth, but too much ownership has the opposite effect - it creates gridlock. The leading edge of innovation requires the assembly of separately owned resources. But gridlock is blocking economic growth all along the wealth creation frontier. This title offers insights into how to spot gridlock in operation.
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Author Biography - Michael Heller
Michael Heller is one of America's leading authorities on ownership. He is the Lawrence A. Wien Professor of Real Estate Law at Columbia Law School and has served as the school's Vice Dean for Intellectual Life. He lives in New York and Los Angeles.
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