Has America Become Less Competitive?

The Economist raised this issue by pointing out that the persistence of profitability has increased for American firms. "Motes" around the company may rise from well-earned technical advantages and superior products, but they could also be signals of monopoly and rent seeking behaviors. The article pointed out the dramatically increased concentration of companies across 900-odd industries, but what I found most convincing was the role of regulation. Mastery of regulation, especially in industries such as finance and healthcare, gives incumbents incredible advantage.