Skip to main content


A better future

through education, skill development and research


Best-Selling New Book The Myth of Capitalism Takes On Big Corporations Including Amazon, Facebook, and Google, Arguing That Modern Day American Capitalism is a Myth

The Myth of Capitalism Was Just Named One of the Financial Times’ “Best Books of 2018”


The Myth of Capitalism: Monopolies and the Death of Competition by Jonathan Tepper and Denise Hearn is Available Everywhere Now


 “I think the book is too hard on some companies and CEOs. There is no way I could endorse the book.”

- Anonymous, billionaire hedge fund manager

Thursday, November 29, 2018 1:36 pm EST
"Tepper and Hearn have written an impressive and important book…One hopes that it will have the impact that it clearly deserves."

Praise for The Myth of Capitalism

 “Tepper and Hearn make the case that inequality is the symptom, not the disease… They provide an immensely readable and persuasive account, superbly well-informed by a mass of recent data and research.” -Sir Angus Deaton, Princeton University, Nobel Prize in economics 2015

 “If you want to understand the real cause of rising inequality, discard Piketty and read Tepper instead. This is a tract for the times with a rare bipartisan appeal.” -Niall Ferguson, Milbank Family Senior Fellow, the Hoover Institution, Stanford, and author of The Ascent of Money

 “Tepper and Hearn have written an impressive and important book…One hopes that it will have the impact that it clearly deserves.” – Michael Spence, Economics professor at Stern School of Business NYU, Nobel Prize in economics 2001

The Myth of Capitalism

Monopolies and the Death of Competition

By Jonathan Tepper with Denise Hearn

Published by Wiley | Available November 29, 2018

Hardcover | 9781119548195 | $27.95 | 320 Pages


Hoboken, NJ (November 29, 2018) – “Capitalism without competition is not capitalism,” writes Jonathan Tepper in The Myth of Capitalism, the new book by Tepper with Denise Hearn released today. Named as one of Financial Times’ “Best Books of 2018,” The Myth of Capitalism tells the story of how America has gone from an open competitive marketplace to an economy where a few very powerful companies dominate key industries. Tepper and Hearn argue that digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world and have created an illusion of choice and competition resulting in modern-day capitalism that has become the antithesis of a competitive marketplace.

At Capitalism’s best, it lifts people from poverty to create widespread wealth for billions of people. However, without competition, everyone suffers. When monopolies and oligopolies dominate the economy, it results in a few winners and millions of losers.

Four airlines currently dominate the skies and have monopolies in their “fortress hubs”, while two corporations’ control 90% of the beer Americans drink. More than 75% of households have no choice when it comes to high-speed Internet access. Most states are captured by two health insurers. Monopolies choke startups and manipulate markets to their advantage.

In The Myth of Capitalism, Tepper and Hearn explain how the United States got to this state and outline ways to bring back open markets and healthy competition, offering a path back to higher economic growth, more jobs, higher wages, and a level playing field for all.

For more information, please visit



Jonathan Tepper is a founder of Variant Perception, a macroeconomic research group that caters to asset managers.  Occasionally, he writes books. He is co- author of The Myth of Capitalism: Monopolies and the Death of CompetitionEndgame: The End of the Debt Supercycle, and Code Red, a book on unconventional monetary policy.

Earlier in his career, Jonathan worked as an equity analyst at SAC Capital and as a Vice President in proprietary trading at Bank of America. With his friend and partner Turi Munthe, they founded Demotix, a citizen-journalism website and photo agency that received photographs from freelance journalists and amateurs and marketed them to the mainstream media. They sold Demotix in 2012 to Corbis, a company then-owned by Bill Gates.

As a kid, he was a bit of a nerd.  Some things don’t change very much.  He earned a BA with Highest Honors in History and Honors in Economics from the University of North Carolina at Chapel Hill, and a M.Litt. in Modern History from Oxford University.  Jonathan is a Rhodes Scholar and is Chairman of the Rhodes Scholars in Britain.

His parents founded Betel International.  He loves jazz, photography, learning languages, reading piles of books and drinking far too much coffee.


Denise Hearn is Head of Business Development at Variant Perception - a global macroeconomic research and investment strategy firm. She has an MBA from the Oxford Saïd Business School, where she co-chaired the Social Impact Oxford Business Network, and a BA in International Studies from Baylor University.

Denise has always been interested in human flourishing. She has managed a variety of projects in this vein including: building new impact investment models in Canada, presenting to over 50,000 people while designing nationwide educational curriculum, and helping to create the world’s first Trustmark for Sharing Economy companies in the UK. She participated in the Alt/Now: Economic Inequality residency program at the Banff Centre. 

Denise resides in Seattle with her husband, and enjoys hiking, singing, and breaking conversation norms at parties.

Multimedia Files:

Preview image


Amy Laudicano, Publicity Manager

Business Wire NewsHQsm