# Prof. Thomas Philippon is cited for his belief that financial markets can increase efficiency

1 Faculty News April 11, 2012 ![](/sites/default/files/styles/246w/public/assets/images/con_033242.jpg?itok=g49_R9Hn)>

Excerpt from [The American Prospect](http://prospect.org/article/taxing-wall-street-speculation) -- " ... markets may well become more efficient in achieving their primary social function—raising capital for enterprises, as Professor [Thomas Philippon](http://www.stern.nyu.edu/faculty/bio/thomas-philippon) has argued."

[Read more](http://prospect.org/article/taxing-wall-street-speculation)