Thread by @stacyfmitchell

Americans think large corporations are invariably more efficient. They aren’t.

I wrote about how local pharmacies, banks, and other local enterprises possess "economies of small scale” that enable them to outperform their big rivals at @washingtonpost

washingtonpost.com/outlook/small-… 1/

The reason that local businesses are disappearing is that policymakers, enthralled to bigness, have allowed a few corporations to amass outsize power & wield it with impunity. Rather than compete head-to-head with their smaller rivals, these giants can simply crush them. 2/

Independent pharmacies, for example, outperform the big chains by a wide margin. It’s not despite being small. It’s because they are small. It’s their local ownership that makes the difference. 3/

As I write: "Their decisions are guided not by the prerogatives of Wall Street but by the health-care needs of their neighbors. Lacking top-heavy bureaucracy & rich with local knowledge & relationships, independent pharmacies possess what you might call economies of small scale."

We’re doing ourselves a huge disservice by accepting failed antitrust, banking, & other policies that fuel consolidation.

We’re undermining community. And we’re trading away some of the most productive & effective parts of our economy.

washingtonpost.com/outlook/small-…