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那提西-全球-经济理论-胜者通吃-20180126-8页.pdf

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Flash Economics The winner takes all 26 January 2018 - 85 In a situation where there are increasing economies of scale or high fixed costs, the biggest companies have lower prices than the others and ultimately win the whole market (the winner takes all). Companies which start from a large domestic market are therefore more efficient in subsequently winning global markets. The tragedy of the European Union is its inability to use its internal market to produce dominant companies in the digital industry and equipment for renewable energies. The exceptions are those European companies which became globalised at a very early stage to profit directly from the global market: in the aerospace, automotive, energy, chemical and construction industries among others, but not in new technologies. Patrick Artus Tel. (33 1) 58 55 15 00 patrick.artus@ @PatrickArtus Distribution of this report in the United States. See important disclosures at the end of this report..