Growth measures are evenly balanced between the 2001-2011 growth rate and the 2009-2011 growth rate, while the concentration measure are job location quotients from 2011.

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Further, market concentration puts the health plan at a disadvantage in reimbursement rate negotiations.

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However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.

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Economists argue about the disincentive effects of higher tax rates. (Messrs Piketty and Saez, the economists who have transformed analysis of income concentration at the top, reckon, controversially, that the optimal top income-tax rate could be as high as 80%.) But no one doubts that there are trade-offs.

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At any rate, the case gives an excellent description of one of the types of corporate cash concentration system that inspired the creation of money market funds.

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