Insights from Professor Thomas Philippon's book, "The Great Reversal," are spotlighted
— June 23, 2020
Excerpt from Bloomberg -- "There’s a danger here. As Thomas Philippon documented in his book, 'The Great Reversal,' the EU has become more competitive than the US. Its antitrust regime isn’t perfect: For example, it has cleared too many horizontal mergers. However, the increase in markups (as measured by higher profit margins) after these deals has been generally less steep than in the U.S. because the market has remained more open."