(p. A23) When Thomas Philippon moved to Boston from his native France 20 years ago, he was a graduate student on a budget, and he was happy to discover how cheap American telephone use was. In those days of dial-up internet connections, going online involved long local phone calls that could cost more than $10 apiece in France. In the United States, they were virtually free.
. . .
Today, his parents pay about 90 euros (or $100) a month in the Paris suburbs for a combination of broadband access, cable television and two mobile phones. A similar package in the United States usually costs more than twice as much.
. . .
The irony is that Europe is implementing market-based ideas — like telecommunications deregulation and low-cost airlines — that Americans helped pioneer. “E.U. consumers are better off than American consumers today,” Philippon writes, “because the E.U. has adopted the U.S. playbook, which the U.S. itself has abandoned.”
For the full commentary, see:
Leonhardt, David. “Big Business Is Overcharging You.” The New York Times (Monday, November 11, 2019): A23.
(Note: ellipses added.)
(Note: the online version of the commentary has the date Nov. 10, 2019, and has the title “Big Business Is Overcharging You $5,000 a Year.”)
Philippon’s views on competition are elaborated in his book:
Philippon, Thomas. The Great Reversal: How America Gave up on Free Markets. Cambridge, MA: Belknap Press, 2019.