American markets, once a model of competition for the world, have experienced a growing concentration of economic power in a few large corporations. The rise of corporate economic—and political—power has emerged as one of the most important issues of our time. It is destined to be a key point of debate in the coming U.S. presidential election.
Do America’s current economic problems—slow productivity growth, weak investment, and rising income inequality—reflect flaws of capitalism or too little competition? Is the slide into more monopolistic structures an inevitable consequence of market forces such as technological change and globalization, or are political choices and policies to blame? What are the new challenges of 21st-century capitalism? What will it take to make American markets great again—for all?
On December 6, the Global Economy and Development program at Brookings is hosting a discussion that will feature an important recently published book on these issues by Thomas Philippon: “The Great Reversal: How America Gave Up on Free Markets.” A presentation on the book by the author will be followed by a discussion involving the author and invited panelists.
Following the discussion, the panel will take questions from the audience.
Welcome:
* Homi Kharas, Interim Vice President & Director, Global Economy and Development, Brookings
Presentation:
* Thomas Philippon, Max L. Heine Professor of Finance, Stern School of Business, New York University
Panel:
* Moderator: Zia Qureshi, Visiting Fellow, Global Economy and Development, Brookings
* Heather Boushey, President and CEO, Washington Center for Equitable Growth
* Romain Duval, Adviser to Chief Economist and Head of Structural Reforms Unit, Research Department, International Monetary Fund (IMF)
* Thomas Philippon, Max L. Heine Professor of Finance, Stern School of Business, New York University
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