Direct: The Rise of the Middleman Economy and the Power of Going to the Source
June 06, 2022
A Columbia Law School professor explains how middlemen have taken control of the economy, how they enrich themselves at the expense of consumers, the environment and workers, and how people can harness the power of direct exchange to make themselves happier and the planet healthier.
Over the past thirty years, middlemen have built intricate financial and retail empires capable of moving goods across the country and around the world—transforming the economy and our lives. Because of middlemen, we enjoy an unprecedented degree of choice and convenience. But the rise of the middleman economy comes at a steep price.
In Direct, Columbia law professor Kathryn Judge shows how overgrown middlemen became the backbone of modern capitalism and the cause of many of its ailments. Middlemen today shape what people do, how they invest, and what they consume. They use their troves of data to push people to buy more, and more expensive, products. They use their massive profits and expertise to lobby lawmakers, tilting the playing field in their favor. Drawing on a decade of research, Judge shows how to fight back: Go to the source.
The process of direct exchange—and the resulting ecosystem of makers and consumers, investors and entrepreneurs—fosters connection and community and helps promote a more just, resilient, and accountable economic system. Direct exchange reminds us that our actions always and inevitably impact others, as it rekindles an appreciation of our inherent interconnectedness. As Judge reveals in this much-needed book, direct exchange is both the cornerstone of the solution and a tool for revealing just how much is at stake in decisions about “through whom” to buy, invest and give.
ABOUT THE AUTHOR
Kathryn Judge is the Harvey J. Goldschmid Professor of Law at Columbia Law School. She has written numerous articles on financial regulation and intermediation, regularly publishing in top journals and presenting her work to audiences in the United States and abroad. She served as a clerk for Judge Richard Posner and Supreme Court Justice Stephen Breyer. She is a graduate of Stanford Law School and Wesleyan University. She lives with her husband, Tim Wu, and their two daughters in New York City.
The books for this giveaway are being provided by Harper Business, an imprint of HarperCollins Publishers. We have 20 copies available. The giveaway ends on Sunday, June 12th.