Piketty's Argument for More Competition

The dispersion of workers and the agglomeration of companies goes a long way to explaining wages in many industries. Companies that don't face competition tend to have higher profits, not because they're much better at using their assets but rather because they just get pricing power. And then they certainly have power over the consumer in terms of what the consumer pays for the goods. The two really tie together and my argument is that Piketty is wrong, one because there's no empirical evidence that growth and inequality move the same way that he suggests.