TheGreatRevealing:TakingCompetitioninAmericaandEuropeSeriouslyHADIHOUALLAANDAURELIENPORTUESEMAY2023WithitsprovocativeclaimthatAmericanowhaslesseconomiccompetitionthantheEU,ThomasPhilippon’sbookTheGreatReversalhasbecomeabibleforneo-Brandeisians.ButreportsofthedeathofcompetitioninAmericaarehighlyexaggerated:WhileU.S.antitrustremainseffective,EUcompetitionpolicyhasfailedtostimulateinnovation,productivity,orgrowth.KEYTAKEAWAYS.InadvancinghiswidelytoutedclaimthatconcentrationandprofitabilityarereachingextremelevelsintheUnitedStates,ThomasPhilippon’sbookTheGreatReversal:HowAmericaGaveUponFreeMarketspaintsadecidedlybiasedpicture..TherealityisU.S.concentrationl...
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