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Poner las utilidades en perspectiva

BERKELEY – Normalmente, el que una empresa tenga altas utilidades se ve como señal de su destreza económica, resultado de la innovación y eficiencia a la que se llega mediante una sana competencia. Sin embargo, como muestra un informe reciente del Consejo Estadounidense de Asesores Económicos, pueden tener otra causa: la concentración del mercado.

En el informe se citan varios indicadores sobre la caída de la competencia en la economía estadounidense, como la disminución en el largo plazo de la creación de nuevos negocios y la acumulación de enormes utilidades por parte de una pequeña cantidad de firmas. Hace poco el Presidente Barack Obama, siguiendo las recomendaciones del estudio, emitió una orden ejecutiva en que llama a todas las entidades estatales de EE.UU. a hacer uso de su autoridad para promover la competencia.

El actual es un momento importante para evaluar la situación de la competencia en diferentes áreas. Varios sectores de la industria estadounidense, entre ellos algunos de los más innovadores, están dominados por un puñado de grandes compañías, varias de las cuales tienen una muy importante proporción del mercado y generan retornos que superan ampliamente sus promedios históricos. Y algunas compañías prefieren acumular dinero o adquirir competidores a usar sus retornos para generar capacidad productiva.

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