# Prof. Thomas Philippon's research on the financial industry is cited

1 Faculty News May 18, 2015 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://www.nytimes.com/2015/05/19/upshot/wall-street-is-back-almost-as-big-as-ever.html?abt=0002&abg=0) -- "Research from [Thomas Philippon](http://www.stern.nyu.edu/faculty/bio/thomas-philippon) of New York University suggests the United States financial industry has become less efficient over the last 130 years at channeling capital toward productive use. And this same phenomenon may be a major contributor to rising inequality."

[Read more](http://www.nytimes.com/2015/05/19/upshot/wall-street-is-back-almost-as-big-as-ever.html?abt=0002&abg=0)