Why America Is Losing Its Entrepreneurial Edge
Harvard Business Review
MAY 20, 2014
As of 2013, the top ten banks had 70% of the market. In pharmaceuticals, the largest company, Pfizer, is the result of decades of mergers. Economy Entrepreneurship Finance' This paper by the Richmond Fed shows how from 1960 to 2005, the U.S. Consolidation of the financial sector has led to similar dynamics in other industries.
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