As government regulates business more, that favors corporations large enough to have substantial legal and compliance departments. Regulation serves as a kind of fixed cost of doing business, discouraging market entry. Not only do higher rates of regulatory growth correlate with increases in market concentration ratios, but the period during which regulation increased significantly, 1990–2000, was followed by increases in market concentration. None of those correlations prove causality, but at the very least it is possible that government regulation is a major force behind the rise of market power.4 WHERE ARE THE REAL MONOPOLY PROBLEMS? ― Tyler Cowen, Big Business: A Love Letter to an American Anti-Hero

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As government regulates business more, that favors corporations large enough to have substantial legal and compliance departments. Regulation serves as a kind of fixed cost of doing business, discouraging market entry. Not only do higher rates of regulatory growth correlate with increases in market concentration ratios, but the period during which regulation increased significantly, 1990–2000, was followed by increases in market concentration. None of those correlations prove causality, but at the very least it is possible that government regulation is a major force behind the rise of market power.4 WHERE ARE THE REAL MONOPOLY PROBLEMS? ― Tyler Cowen, Big Business: A Love Letter to an American Anti-Hero
As government regulates business more, that favors corporations large enough to have substantial legal and compliance departments. Regulation serves as a kind of fixed cost of doing business, discouraging market entry. Not only do higher rates of regulatory growth correlate with increases in market concentration ratios, but the period during which regulation increased significantly, 1990–2000, was followed by increases in market concentration. None of those correlations prove causality, but at the very least it is possible that government regulation is a major force behind the rise of market power.4 WHERE ARE THE REAL MONOPOLY PROBLEMS? ― Tyler Cowen, Big Business: A Love Letter to an American Anti-Hero

As government regulates business more, that favors corporations large enough to have substantial legal and compliance departments. Regulation serves as a kind of fixed cost of doing business, discouraging market entry. Not only do higher rates of regulatory growth correlate with increases in market concentration ratios, but the period during which regulation increased significantly, 1990–2000, was followed by increases in market concentration. None of those correlations prove causality, but at the very least it is possible that government regulation is a major force behind the rise of market power.4 WHERE ARE THE REAL MONOPOLY PROBLEMS?
― Tyler Cowen,

Big Business: A Love Letter to an American Anti-Hero

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