America: Land of the (not so free) markets: A talk with Thomas Philippon
Join the Institute for Innovation and Public Purpose (IIPP) for this exciting talk by Thomas Philippon, author of The Great Reversal: How America Gave Up on Free Markets, where we'll discuss and debate competition, rents and growth within the American economy as well as IIPP’s work around modern economic rents as it relates to the themes present throughout Philippon’s book.
America: Land of the (not so free) markets: A talk with Thomas Philippon
11 May 2020, 18:30 – 20:00
The Great Reversal: How America Gave Up on Free Markets argues that many of the problems within the American economy stem not from the flaws of capitalism or the inevitabilities of globalisation but to the concentration of corporate power. By lobbying against competition, the biggest firms drive profits higher while depressing wages and limiting opportunities for investment, innovation, and growth.
In this talk, leading economist Thomas Philippon will debate the competition, rents and growth within the American economy to:
- Work out the basic facts and consequences of industry concentration in the U.S. and Europe
- Show how lobbying and campaign contributions have defanged antitrust regulators
- Consider what all this means for free trade, technology and innovation
Our work at the Institute for Innovation and Public Purpose revisits the concept of competition in economic theory and public policy by looking at a much overlooked issue: economic rents. The evening will provide a wonderful platform to discuss and debate this work as it relates to the themes present throughout Philippon’s book.
The talk will be chaired by IIPP Director Mariana Mazzucato and in conversation with UCL Department of Economics Professor Richard Blundell.
Thomas Philippon (@ThomasPHI2) is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. He was named one of the top 25 economists under 45 by the IMF and won the Bernácer Prize for Best European Economist. He currently serves as an academic advisor to the Financial Stability Board and to the Hong Kong Institute for Monetary Research. He was previously an advisor to the New York Federal Reserve Bank and a board member of the French prudential regulatory authority.
Mariana Mazzucato (@MazzucatoM) is Professor in the Economics of Innovation and Public Value and Founder and Director of the Institute for Innovation and Public Purpose at University College London.
Richard Blundell (@R_Blundell_UCL) is Professor of Political Economy at the Department of Economics of University College London and the Director of the Economic and Social Research Council (ESRC) Centre for the Microeconomic Analysis of Public Policy at the Institute for Fiscal Studies.
Further information
Ticketing
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Cost
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