By Will Abel, Silvana Tenreyro, and Gregory Thwaites This post first appeared on Vox. The growing prominence of giant companies in advanced economies has raised concerns about the increase in monopoly power (e.g. Eeckhout and de Loecker 2018). Most attention has focused on the markets in which these firms sell. With market power, firms in an industry may set prices higher, and produce less in aggregate, than they would if the industry were more competitive (Gutierrez and Philippon 2017).