E4 - The Rise and Fall of Competitive Markets: The US is in Trouble

My guest for this episode is Thomas Phillippon, the Max L. Heine Professor of Finance at New York University, Stern School of Business. In this podcast we discuss his influential and provocative new book, The Great Reversal: How America Gave Up on Free Markets. In the book, Thomas shows how over the last 20 years, US markets have become less competitive. This has led to poorer service quality, higher consumer prices, lower investment, and higher inequality. At the same time, the reverse has been happening within the EU. How and why this has happened are the subjects of our conversation. I hope you enjoy it as much as I did!

Related material:

-- Thomas' new book: The Great Reversal: How America Gave Up on Free Markets (2019). https://www.amazon.com/Great-Reversal-America-Gave-Markets/dp/0674237544

-- Thomas' recommended book: Dark Mirror: Edward Snowden and the Surveillance State, by Barton Gellman (2020). https://www.amazon.com/Dark-Mirror-Snowden-American-Surveillance-ebook/dp/B017SCQKE2


-- Other works mentioned: Government's End: Why Washington Stopped Working (a revised and updated version of Demosclerosis), by Jonathan Rauch (1999) https://www.amazon.com/Governments-End-Washington-Stopped-Working/dp/1891620495; Why we're polarized, by Ezra Klein (2020) https://www.amazon.com/Why-Were-Polarized-Ezra-Klein/dp/147670032X

Host: Matt Mulford | Guest: Thomas Philippon | Editor: Théophile Letort

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