Direct: The Rise of the Middleman Economy and the Power of Going to the Source [9780063041974]

Overview

Axiom Award Gold Medalist for Business Theory

Finance expert, law professor, and fellow overwhelmed consumer Kathryn Judge investigates the surprising ways that middlemen have taken control of the economy at the expense of the rest of us, and provides practical guidance about how to regain control, find more meaning, and contribute to a more sustainable economy.

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.

Direct pulls back the curtain on the hidden forces shaping your world, revealing the hidden costs of convenience and offering a new path forward:

• Supply Chain Fragility: Why our complex global supply chains are surprisingly brittle, leading to everything from E. coli outbreaks to financial crises.
• The Accountability Illusion: How layers of middlemen allow corporations to evade responsibility for everything from child labor in cocoa production to the 2008 financial collapse.
• The Benefits of Going Direct: A look at the surprising advantages of going to the source—from CSAs to direct-to-consumer brands—that foster connection, community, and a more resilient system.
• A Practical Path Forward: Five actionable principles for consumers, entrepreneurs, and policymakers to regain control, find more meaning, and build a more sustainable economy.