Dominant powers should pay attention to even the smallest nations.
Jul 24th 2025 | 5 min read
Markets function most efficiently when numerous firms compete for consumer preference. Performance declines when a small number of companies dominate, dividing market share among themselves. Economists therefore rely on metrics to assess whether markets are competitive or consolidated.
This piece originally appeared in the Finance & economics section of the print edition under the heading “The curvature of power”
From the July 26th 2025 edition
Explore additional stories from this section and more in the complete list of contents
⇒Browse the edition
Where will the electric vehicle capital rival Detroit?
An intense competition is unfolding in China
Crypto’s transformative breakthrough could reshape finance
The more practical stablecoins and digital tokens become, the higher the potential risks
Why continuous trading around the clock might not be ideal
Traditional working hours still offer certain benefits
Looking for a raise? Consider staying put
America’s slowing labor market creates challenges for job switchers
Has Trump weakened the dollar?
Yes. The extent will become evident during the next financial crisis
Why is AI adoption progressing slowly? Economic theory provides insight
Companies are overlooking what appears to be an easy opportunity
— news from The Economist
— News Original —
What economics can teach foreign-policy types
Hegemons should care about even puny countries n nJul 24th 2025|5 min read n nMarkets work best when many companies vie for customers’ favour. They work badly when a few firms dominate, carving up sales between them. Economists therefore need a measure of whether markets are competitive or concentrated. n nThis article appeared in the Finance & economics section of the print edition under the headline “The curvature of power” n nFrom the July 26th 2025 edition n nDiscover stories from this section and more in the list of contents n n⇒Explore the edition n nWhere will be the Detroit of electric vehicles? n nA fierce battle is under way in China n nCrypto’s big bang will revolutionise finance n nThe more useful stablecoins and tokens prove to be, the greater the risk n nWhy 24/7 trading is a bad idea n nThere are advantages to the old-fashioned working day n nWant higher pay? Stay in your job n nAmerica’s cooling labour market is bad news for those who move about n nHas Trump damaged the dollar? n nYes. How badly will become clear in the next crisis n nWhy is AI so slow to spread? Economics can explain n nBusinesses are ignoring the street of hundred-dollar bills