Its economists used to champion big firms, but the mood has shifted
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.