Insights from Professor Thomas Philippon’s book, “The Great Reversal,” are referenced
— August 10, 2020
Excerpt from Financial Times -- "There is another reason US workers have been prevented from negotiating higher wages. Between 1997 and 2012, 75 per cent of industries became more concentrated. As economist Thomas Philippon argues in his book 'The Great Reversal,' this is driven by a lack of competition. As superstar companies rise to the top and squash potential rivals, they become less inclined to raise wages because competition for workers is limited. Beefing up antitrust policy would help reverse this trend."