Jan Eeckhout Do giant firms undermine competition and social welfare

In an era of technological progress and easy communication, it might seem reasonable to assume that the worlds working people have never had it so good. But wages are stagnant and prices are rising. Economist Jan Eeckhout shows how this is due to a small number of companies taking advantage of new technologies to charge everhigher prices. The consequences are already immense, from excessive prices to fewer emerging companies that can compete, to rising wage inequality for most workers. A provocative investigation into how market power hurts average working people, Eeckhout also offers concrete solutions on how to solve the problem and restore a healthy economy. This session is presented in association with the Centre for Economic Policy Research (CEPR).