Mason  🏃‍♂️ ✂️

In the short run economy with big companies is more productive due to economies of scale and less economy-wide redundancy (eg ad budget for monopolist lower than industry with 10 companies 1/10 the size), but competitive economy will be more innovative and grow faster

It's very difficult to say what really works for developed countries because there aren't enough experiments. For developing countries there is a clear playbook (ht @smc90):https://twitter.com/Noahpinion/status/1029783616098787328 …

Not sure holding access to capital is a fair constraint - lasted more sophisticated firms can access capital in more ways

depends how you define 'better'

The question is wrong. It assumes that if it turns out one is better than another then we should act. We should coerce. But there’s no problem in the first place and so no solution is needed. Just let people come together in big or small organisations as needed.

I find it interesting that only large companies that wield massive capital can fund paradigm-shifting R&D (along with governments). There aren’t great vehicles nor the risk tolerance for small companies. So even Start-up companies doing R&D become big fast: spacex, magical leap..

There are many more smaller for profit businesses in any economy. A) note the various service companies for individuals B) any large company generates a vendor support network that feed into big company. Take any Fortune 500 company and their vendor list is many thousands