How Europe overtook the US in championing free markets

I read the new book The Great Reversal by economist Thomas Philippon then did a Q&A with him about it. It’s a fascinating analysis of a fundamental shift that began around 2000 wherein the US economy has become less competitive and more dominated by its largest incumbent companies while Europe become more competitive. The impact in the US can be measured in higher prices, fewer successful small businesses, and lack of product innovation.

Read my book review here and my interview here.