Market concentration and low competition has become the new normal in America
Share Now on:
When economist and New York University finance professor Thomas Philippon came to America in the late 1990s, he found an American market with cheaper prices than those he was accustomed to in Europe.
But nearly 20 years later and the reverse is true — prices of consumer goods and utilities are now largely more expensive than those in Europe. Philippon digs deep into how that happened in his new book, “The Great Reversal.”
Philippon spoke with “Marketplace Morning Report” host David Brancaccio about how increases in lobbying against competition and poor regulatory oversight led to a market reversal.
Click the audio player above to hear the interview
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
You make our
Support nonprofit news you love with a gift today.