Swiss Economicblogs.org
US corporations’ cash accumulation continues unabated, leading to the rise of ‘superstar’ firms that are crushing market competition.We think many keys for understanding the US economy right now – and why it may not be behaving the way textbook economics say it should – are to be found at the microeconomic rather than macroeconomic level. What the microeconomic picture shows is a sharp reduction in the level of market competition due to the rise of a small number of ‘superstar’ firms with...
Read More »Corporate America is cash rich, helped by declining competition
