Its economists used to champion big firms, but the mood has shifted
Source: Schumpeter: The University of Chicago worries about a lack of competition | The Economist
There is an emerging consensus among economists that competition in the economy has weakened significantly. That is bad news: it means that incumbent firms may not need to innovate as much, and that inequality may increase if companies can hoard profits and spend less on investment and wages.
Yes, I certainly see this in tech fields.The double consequences are scary.
Thanks to colleague Prof. Liz Lyons for suggesting this.