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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
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@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    Noah Smith‏Verified account @Noahpinion Oct 26

    Wow. Compared to other countries, U.S. industry really doesn't look that concentrated.pic.twitter.com/q3h9UV2VIh

    9:15 PM - 26 Oct 2018
    • 24 Retweets
    • 85 Likes
    • Chris Wielga Brad Lassey Sam Dean kar nels Introverted Jonathan Michael Doublin Toby Charleston Noah Shuster
    11 replies 24 retweets 85 likes
      1. New conversation
      2. Lyman Expand the House of Representatives Stone‏ @lymanstoneky Oct 27
        Replying to @Noahpinion

        Smaller internal markets + state ownership of assets explains a lot of the international variance in market size. Company scale is not strictly limited by national borders so small countries always look more concentrated, much as counties are more concentrated than states, etc

        2 replies 0 retweets 4 likes
      3. 1 more reply
      1. Jack Harman‏ @jackjackharman Oct 26
        Replying to @Noahpinion

        The fact that "Western Europe" is lower than all the countries in western Europe indicates to me that large regions tend to be less concentrated than small ones

        0 replies 0 retweets 2 likes
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      1. SaveMeeJeebus‏ @SaveMeeJeebus Oct 26
        Replying to @Noahpinion

        Probably because these are such broad categories. Within "tech," specific categories like online advertising are dominated by a couple firms, but doesn't look concentrated when you look at all tech companies (though wtf is the "tech" market and how do you divide shares of it)

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Roy Bahat‏Verified account @roybahat Oct 26
        Replying to @Noahpinion

        @jtepper2 thoughts?

        1 reply 0 retweets 0 likes
      3. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @roybahat @Noahpinion

        Thanks. I haven’t seen the article or dataset, but almost all show US ratios to have extremely low concentration around 500 in HHI. A few tweets to follow to show why this makes little sense.

        2 replies 0 retweets 1 like
      4. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @jtepper2 @roybahat @Noahpinion

        A good read with tables. Doe the US have a concentration problem. You’ll see dozens and dozens of industries with extreme concentration. http://rooseveltinstitute.org/wp-content/uploads/2018/09/The-United-States-has-a-market-concentration-problem-brief-final.pdf …pic.twitter.com/zjIDKNIHok

        1 reply 0 retweets 0 likes
      5. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @jtepper2 @roybahat @Noahpinion

        If I read Bloomberg chart, for example, commnications is below 500, but FCC data puts cellular concentration at 2.700 and the US was looking at mergers that would have made it worsehttps://bits.blogs.nytimes.com/2011/09/02/why-wireless-markets-are-naturally-concentrated/ …

        1 reply 0 retweets 0 likes
      6. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @jtepper2 @roybahat @Noahpinion

        Another good look at recent trends in industries where many are now extremely concentrated https://www.americanactionforum.org/research/market-concentration-grew-obama-administration/ …pic.twitter.com/ENIqOkryfR

        1 reply 0 retweets 0 likes
      7. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @jtepper2 @roybahat @Noahpinion

        And medical and insurance for most Americans ranges between highly concentrated and super concentrated. (I love that word super to describe the problem) https://www.commonwealthfund.org/blog/2018/variation-healthcare-provider-and-health-insurer-market-concentration …pic.twitter.com/mZNWyR8oy4

        1 reply 0 retweets 0 likes
      8. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @jtepper2 @roybahat @Noahpinion

        Here are some labor market concentration ratios by employees. Again, nothing near the levels in the Bloomberg chart https://www.bls.gov/opub/btn/volume-3/pdf/measuring-occupational-concentration-by-industry.pdf …pic.twitter.com/AcAcSz3qS3

        1 reply 0 retweets 0 likes
      9. Jonathan Tepper‏Verified account @jtepper2 Oct 27
        Replying to @jtepper2 @roybahat @Noahpinion

        Here is a chart on airline concentration. It is highly concentrated.pic.twitter.com/lLA5CznN5A

        1 reply 0 retweets 0 likes
      10. 4 more replies
      1. New conversation
      2. Now Here Not There‏ @nowherenorthere Oct 29
        Replying to @Noahpinion @overlawyered

        Isn’t this mostly a market size effect? If you look at US vs Western Europe market concentration looks broadly similar.

        1 reply 0 retweets 0 likes
      3. Now Here Not There‏ @nowherenorthere Oct 29
        Replying to @nowherenorthere @Noahpinion @overlawyered

        You could find comparable US aggregates by going to regional or state levels (say California).

        0 replies 0 retweets 0 likes
      4. End of conversation
      1. גיא לוזון‏ @GuyLouzon Oct 27
        Replying to @Noahpinion

        the question regarding europe is the inter state competitiveness, HHI doesn't really matter in each separate state, if there are continental alternatives

        0 replies 0 retweets 0 likes
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      1. Terry Bell‏ @ApropoSensible Oct 26
        Replying to @Noahpinion

        But it's worth remembering that the regulatory regimes may be very different, changing the way that capitalization interacts with consumers

        0 replies 0 retweets 0 likes
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      1. Johan Kim‏ @Johan_Kim_56426 Oct 26
        Replying to @Noahpinion

        Well, looking at the US through the lens of the Herfindahl-Hirschman Index, it makes sense as there aren't many industries with an outright leader. GOOG, APPL, MSFT. Ford, GM, FCA. US Finance is ultra competitive. Ect.

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      1. Malachy McAllister‏ @Malachy_McA Oct 26
        Replying to @Noahpinion

        But is that comparison meaningful between economies of such different scale? Eg. more meaningful to compare US with EU economy.

        0 replies 0 retweets 0 likes
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      1. kar nels‏ @kar_nels Oct 26
        Replying to @Noahpinion

        Wonder what So Korea would look like

        0 replies 0 retweets 0 likes
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