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New age of corporate concentration requires more than just a policy fix Add to ...

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Andrew Jackson is an adjunct research professor in the Institute of Political Economy at Carleton University in Ottawa and senior policy adviser to the Broadbent Institute.

Economics textbooks generally begin with a simple model in which prices of goods and services are determined by supply and demand in competitive markets and firms are “price takers.” Yet it is much closer to reality to view the world we live in as one in which a handful of very large companies dominate most markets and have the power to administer prices so as to earn well above average profits or “rents.”

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