Dominant Firms and the Economy

Large firms have played an important role in the economy. Today, firms like Apple, Alphabet, Amazon, Meta, and Microsoft seem to become increasing dominant and there is renewed debate about whether they have become “too” dominant. In this talk, Thomas Philippon, Max L. Heine Professor of Finance at NYU Stern, will present his work on dominant firms, discussing where and especially why they have become dominant, in the hope of making any welfare assessment about this phenomenon