Competition is good. No, really. Thomas Philippon, named one of the top 25 economists under 45 by the IMF (International Monetary Fund), set out to answer a question that touches us all: Why are cell-phone plans more expensive in the United States than in Europe? After conducting cutting edge research, the result to this question and much more is articulated in his new book, The Great Reversal: How America Gave up on Free Markets, outlining his argument that business consolidation has led to higher prices, reduced investment, productivity, growth and wages. Read more here.
