Whoever owns the most and best robots and other smart technologies, will end up with a monopoly on the entire economy.

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From this perspective, they start their market economy with a state-run monopoly.

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The main concession they make to the q-sceptics is to agree that, if a certain kind of intangible asset increases monopoly power in the American economy, then q, properly measured, would be lower than their estimate.

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Not only does telecoms traffic grow roughly twice as fast in competitive markets as in monopoly markets, but the benefits flow to all corners of the economy in the form of new technology, innovative services, lower distribution costs and much lower average tariffs.

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Mexico's new government is negotiating with rival political parties to use the oil industry and state monopoly Pemex to a different end: cheaper energy for a more competitive economy.

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