# Professor Thomas Philippon and PhD student Germán Gutiérrez's joint research on the impact of competition on corporate investment in the US is spotlighted

1 Faculty News July 27, 2017 ![The Economist logo](/sites/default/files/styles/246w/public/assets/images/uat_025662.jpg?itok=1_MW1PTy)>

Excerpt from [The Economist](https://www.economist.com/news/finance-and-economics/21725552-new-research-suggests-too-little-competition-deters-investment-americas) -- "Declining competition does more than harm some consumers; it makes firms lazy. The authors calculate that if leading firms had maintained their share of overall investment since 2000, the American economy would have 4% more capital today, an amount roughly equivalent to two years’ investment by non-financial companies."

[Read more](https://www.economist.com/news/finance-and-economics/21725552-new-research-suggests-too-little-competition-deters-investment-americas)