In sum: productive entrepreneurs focus first on growing the pie; unproductive entrepreneurs are focused first on dividing the pie; and destructive entrepreneurs are really only interested in stealing the pie.
The biggest hint that something is wrong is when you dig deeper into firm profitability. Profits are increasingly concentrating. For example: the share of profits by the largest four firms in almost every industry inside the US has increased dramatically in the past fifteen years.
In part, this is being driven by corporate concentration. Since 2008, $10 trillion of mergers have taken place in the United States — one of the largest rounds in the country’s history.
Given that competition is the cornerstone of a market economy, this is not a good thing.