Abstract
Prices of some important products—airline flights, mobile phone calls, broadband Internet service—are higher in the United States than in many other countries, notably those in Europe There are complications with each of these measures;the HHI for food retailing, to take one example, is hard to interpret when supercenters, drugstores, dollar stores, gas stations, meal kits ordered online, and prepared meals delivered by DoorDash all offer food for at-home consumption in competition with grocery stores The current stars’ pretax profit margins, he adds, are similar to those of stock market stars of earlier years;what distinguishes them is their much higher after-tax profit margins, a function of tax policy rather than productivity
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