The reason we stay in school, pursue advanced degrees, merge and acquire competitors is to increase market power. The former two are celebrated by society, the latter two often derided negatively as anticompetitive and made subject to regulatory and judicial punishment.
The big buzz and bigger controversy around Texas during the past several years has been a proposal by a company called Texas Central to build and operate a high-speed rail line between Downtown Dallas and a point in the Houston area, about eight miles from downtown Houston where two highways intersect, a great spot for a parking...