Big is beautiful ?

The development of digital technology and new technologies probably gives rise to a growing number of companies and business sectors characterised by declining marginal production costs in OECD countries. This means that companies are all the more profitable the larger they are, and therefore that their capacity to grow is all the greater the larger they are. This analysis normally leads to: Growing corporate concentration, which we are seeing; Increasing profit margins, which we are seeing; Better stock market performance by large caps than by mid caps or small caps, which we are not seeing at all, curiously. The presence of decreasing marginal costs also requires new regulations of companies .