Source: Too much of a good thing
Profits are too high. America needs a giant dose of competition
Though American companies now make a fifth of their profits abroad, their naughty secret is that their return-on-equity is 40% higher at home.
Business spending on lobbying doubled over the period as incumbents sought to shape regulations in ways that suited them. The rising importance of intangible assets, particularly patents, has meant that an ability to manage industry regulators and the challenges of litigation is more valuable than ever.
