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As chain stores rise, there is also a loss of dynamism, competition, and market entry for new ideas and products. Keep in mind that today’s major chain was once a small individual store on a street somewhere. A bit more economic chaos, even if it is inconvenient in the short run, actually tends to be correlated with higher rates of innovation.

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Tyler Cowen Quote: “As chain stores rise, there is also a loss of dynamism, competition, and market entry for new ideas and products. Keep in mind that today’s major chain was once a small individual store on a street somewhere. A bit more economic chaos, even if it is inconvenient in the short run, actually tends to be correlated with higher rates of innovation.”
Tyler Cowen Quote: “As chain stores rise, there is also a loss of dynamism, competition, and market entry for new ideas and products. Keep in mind that today’s major chain was once a small individual store on a street somewhere. A bit more economic chaos, even if it is inconvenient in the short run, actually tends to be correlated with higher rates of innovation.”
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