The Great Reversal: How America Gave Up on Free Markets
— October 29, 2019
By Thomas Philippon
Philippon did not expect these conclusions in the age of Silicon Valley start-ups and millennial millionaires. But the data from his research proved undeniable. In this compelling tale of economic detective work, we follow him as he works out the basic facts and consequences of industry concentration in the U.S. and Europe, shows how lobbying and campaign contributions have defanged antitrust regulators, and considers what all this means for free trade, technology, and innovation. For the sake of ordinary Americans, he concludes, government needs to return to what it once did best: keeping the playing field level for competition. It’s time to make American markets great―and free―again.