Mike talks with Thomas Philippon, a Professor of Finance at the Stern School of Business at New York University. Professor Philippon is a member of the Monetary Policy Advisory Panel of the Federal Reserve Bank of New York and the author of the recently released book, The Great Reversal: How America Gave Up On Free Markets, which they discuss on this episode.
Topics discussed include:
- the many benefits of competition
- how and why the US became much less competitive over the last two decades
- how, in many ways, Europe is actually much more competitive than the US
- how lobbying and campaign finance contribute to the problem
- the ‘revolving door’ between government and the private sector
- the decline of competition in finance, health care, and the tech sector
- what can be done to increase competition
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