itif.orgTheGreatRevealing:TakingCompetitioninAmericaandEuropeSeriouslyHADIHOUALLAANDAURELIENPORTUESEMAY2023WithitsprovocativeclaimthatAmericanowhaslesseconomiccompetitionthantheEU,ThomasPhilippon’sbookTheGreatReversalhasbecomeabibleforneo-Brandeisians.ButreportsofthedeathofcompetitioninAmericaarehighlyexaggerated:WhileU.S.antitrustremainseffective,EUcompetitionpolicyhasfailedtostimulateinnovation,productivity,orgrowth.KEYTAKEAWAYSInadvancinghiswidelytoutedclaimthatconcentrationandprofitabilityarereachingextremelevelsintheUnitedStates,ThomasPhilippon’sbookTheGreatReversal:HowAmericaGaveUponFreeMarketspaintsadecidedlybiasedpicture.TherealityisU.S.conc...