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Breakingviews - Review: An economic paradigm for ordinary people

How was the American economy transformed from a broad engine of prosperity to favoring a rich elite? That’s the conundrum Nicholas Lemann explores in his new book. “Transaction Man: The Rise of the Deal and the Decline of the American Dream” shows how the post-1980 move from stable institutions to a deal-oriented economy benefited the wealthy and disempowered everyone else. Active interest groups and pluralism could redress the balance. So would smaller businesses and lower overheads.