EPISODE · Jan 29, 2020 · 24 MIN
Thomas Philippon: How America gave up on free markets
from Political Economy with Jim Pethokoukis
On this episode, Thomas Philippon discusses the rise of market concentration in America over the past two decades, and how this has led to declining innovation and higher prices for consumers. We also discuss the extent to which the health care industry and Big Tech are each a part of the problem, as well as when anti-trust action is and isn't a suitable remedy. The post Thomas Philippon: How America gave up on free markets appeared first on American Enterprise Institute - AEI.
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What this episode covers
How concentrated is corporate power in America today? How big of a problem is this? According to Thomas Philippon, the answers are “more concentrated than in Europe, and more concentrated than any other time in recent American history,” and, more simply, “yes, it’s a big problem.” On today’s podcast, Thomas and I delve into this argument, outlined in his recently released book, The Great Reversal: How America Gave Up on Free Markets . We explore how industry concentration has affected various American markets — from air travel to health care. We also explore the difference between good and bad concentration, and discuss which label better applies to big technology companies. Thomas is a professor of finance at New York University’s Leonard N. Stern School of Business. He is also an associate editor of the American Economic Journal and a research associate at the National Bureau of Economic Research. You can also check out the transcript of this podcast here .
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Thomas Philippon: How America gave up on free markets
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