4 ms·

The fundamental title and premise of the article is quite inaccurate. https://tcdata360.worldbank.org/indicators/hh.mkt?country=BRA&indicator=2370&countries=US

The fundamental title and premise of the article is quite inaccurate. https://tcdata360.worldbank.org/indicators/hh.mkt?country=BRA&indicator=2370&countries=USA&viz=line_chart&years=1988,2015 https://tcdata360.worldbank.org/indicators/hh.mkt?country=BR... Clearly market concentration has been going DOWN worldwide since 1988. It's important to get your basics correct.

dv_dt 8y ago
The linked index is described as "Hirschman Herfindahl index is a measure of the dispersion of trade value across an exporter's partners." Can you expand on how this index relates to market concentration in general, or within a single nation like the US?
- sleepysysadmin 8y ago
  https://en.wikipedia.org/wiki/Herfindahl_index https://en.wikipedia.org/wiki/Herfindahl_index Named after economists Orris C. Herfindahl and Albert O. Hirschman, it is an economic concept widely applied in competition law, antitrust[1] and also technology management. The article thoroughly discussed competition and antitrust. I have not missed the mark on the subject.
zzzcpan 8y ago
The link you provide uses a different meaning for market concentration, not what the article talks about. You can think of it as market monopolization instead if you don't like the wording.
bwanab 8y ago
At the risk of "appeal to authority", I'm going submit that Stiglitz is a Nobel Prize winner in economics. My guess is that he's got his bases pretty well covered.
- sleepysysadmin 8y ago
  He's the Chief Economist of the World Bank... the source of my link. I completely agree with his new-keynesian economics. What I disagree with is his positions on socialism that might work. https://en.wikipedia.org/wiki/Perfect_competition https://en.wikipedia.org/wiki/Perfect_competition Which hey, machine learning might make this work.
ameister14 8y ago
Your link is talking about Market concentration in terms of total US imports and exports. It's possible for the HHI to be low in global terms if the US is importing/exporting to a variety of partners even if the production of goods is concentrated in few hands. So yes, this measure of market concentration has been going down worldwide as globalization increased partnerships between countries, but in this case the HHI index you're referring to isn't measuring microeconomic domestic competition, it's talking about international competition on a macro scale, treating countries as the inputs.

dv_dt 8y ago

The linked index is described as "Hirschman Herfindahl index is a measure of the dispersion of trade value across an exporter's partners." Can you expand on how this index relates to market concentration in general, or within a single nation like the US?

sleepysysadmin 8y ago
https://en.wikipedia.org/wiki/Herfindahl_index https://en.wikipedia.org/wiki/Herfindahl_index Named after economists Orris C. Herfindahl and Albert O. Hirschman, it is an economic concept widely applied in competition law, antitrust[1] and also technology management. The article thoroughly discussed competition and antitrust. I have not missed the mark on the subject.

zzzcpan 8y ago

The link you provide uses a different meaning for market concentration, not what the article talks about. You can think of it as market monopolization instead if you don't like the wording.

bwanab 8y ago

At the risk of "appeal to authority", I'm going submit that Stiglitz is a Nobel Prize winner in economics. My guess is that he's got his bases pretty well covered.

sleepysysadmin 8y ago
He's the Chief Economist of the World Bank... the source of my link. I completely agree with his new-keynesian economics. What I disagree with is his positions on socialism that might work. https://en.wikipedia.org/wiki/Perfect_competition https://en.wikipedia.org/wiki/Perfect_competition Which hey, machine learning might make this work.

ameister14 8y ago

Your link is talking about Market concentration in terms of total US imports and exports. It's possible for the HHI to be low in global terms if the US is importing/exporting to a variety of partners even if the production of goods is concentrated in few hands. So yes, this measure of market concentration has been going down worldwide as globalization increased partnerships between countries, but in this case the HHI index you're referring to isn't measuring microeconomic domestic competition, it's talking about international competition on a macro scale, treating countries as the inputs.