Why corporate America could use more competition

What could explain growing market concentration? John Kwoka of Northeastern University says that in the past 20 years, the Federal Trade Commission has become less likely to challenge mergers in industries with five or more big competitors, while maintaining stiff scrutiny where just a handful of competitors prevail. Rising regulatory burdens, for example on banks, may also favor big firms, since they can spread a fixed compliance cost across more customers.

The Wall Street Journal