Chart of the week: the death of competition in America
The Economist has detected a slump in the number of times the words “competition” and “competitor” have been mentioned in annual reports over the past few years.
The US economy "has become a lot less competitive" in recent years, says Jonathan Tepper in his book The Myth of Capitalism.
No wonder The Economist has detected a slump in the number of times the words "competition" and "competitor" have been mentioned in annual reports over the past few years. The dearth of competition raises prices for consumers. It also crimps wage growth as firms don't have to bid for labour against rivals so much.
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