You might think the United States is a dynamic, free market economy - but you'd be wrong.

In their new book The Myth of Capitalism, Jonathan Tepper and Denise Hearn show convincingly that modern America is actually characterised by "ersatz capitalism", with a few big players dominating swathes of the economy, capturing regulators and screwing over consumers into the bargain.

CapX Deputy Editor John Ashmore sat down with Jonathan to discuss the way out of America's malaise, the impact of oligopoly capitalism on Western society and whether there's cause to be optimistic about the future.

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