Faculty News

In a video interview, Professor Thomas Philippon discusses why market concentration and lack of competition are leading to higher prices in the U.S. than in Europe

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Excerpt from CNN -- “'It’s pretty much concentration and lack of competition. What is most striking is that it was the opposite 20 years ago. So when I came to the US from Europe 20 years ago, I noticed that the US was the land of low prices and free markets, where you had lots of choices and very low prices, be it for flying around, for buying a cell phone, or for getting on the internet. And somehow over the 20 years that I’ve been here, I’ve seen these markets become more and more concentrated, controlled by a few large players, so that today US households have fewer choices, and they pay higher prices.'”

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