Why do cell phones cost more in the U.S. than in Europe? In his new book (October 2019), Thomas Philippon discusses the economics of free markets. He explains how markets work and, in the context of the cell phone industry, discusses a number of factors that influence their freedom. He concludes that free markets are beneficial (when they are free), but excessive economic inequalities have arisen that are harmful. In this Community Class, Chris Swanson will report on Philippon’s conclusions and provide insight into the economics of large businesses (and why your cell phone bill is so large!).
Chris Swanson is the president of Gutenberg College where he has been a tutor since the college opened its doors in 1994. He has a B.S. in physics and math and both an M.S. and Ph.D. in physics. He has also done post-doctoral research at the University of Oregon and taught at Westmont College in California.