Bloomberg:
Monopolies are worse than we thought
15 February 2017
A recent paper by David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen speculates that tech might have enabled the rise of a few “superstar” companies in each industry. The fact that leaders in more concentrated industries also tend to have higher productivity supports this hypothesis. Technology might have simply changed the nature of markets so that the winners take most of the profits.