Politicians and activists are warning that mega-companies like Facebook, Wal-mart, and Amazon are returning America to theGilded Age. They point to record breakingprofitsandmergersthe size of small countries. On the other hand, manyeconomists andantitrust lawyersaren’t panicking. They say innovation and better management are driving these so-called superstar firms to unprecedented levels of efficiency. Their size and dominance is just a side effect. However, both may be missing the bigger picture. Read this interesting analysis by Philippon and Gutiérrez
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