Points Australia: Meaning Australian and Cent Gdp

points australia: Key points:Australia has outpaced the US in big business market share growth Top 100 listed companies now account for almost half of GDPGroceries, gambling, super, banking, telecommunications and energy are biggest areas of concern Rod Sims said the revenue of Australia top 100 listed companies had surged from 27 per cent of GDP in 1993 to nearly 50 per cent GDP in 2015, meaning Australian big business growth outpaced even the United States. "What we've really got to make sure is there adequate competition to see any benefits from scale flow through to the general economy," he said, according to Australian Broadcasting Corporation. Mr Sims said the ACCC was concerned about big businesses increasingly using arguments that heavy concentration within industries was not a concern, which Mr Sims said "basically defy conventional economic wisdom". "Conventional economic wisdom says monopolies will charge more and give less, it says that highly concentrated markets with high entry barriers are going to see consumers worse off," he said. "And yet we're seeing that conventional economic wisdom often turned on its head and really putting the ACCC in a position of having to prove conventional economic wisdom." Photo: Only 29 of the companies in the ASX 100 in 1990 are still there, mostly because of mergers. Map: Australia Australia levels of market concentration leave consumers worse off and a new approach is needed, the Australian Competition and Consumer Commission chairman has warned. Mr Sims said in Australia the onus was on the ACCC to prove whether a merger was anti-competitive, while in the United States the onus was placed on the merger parties. Mr Sims said, while an approach such as the US would probably need to be enshrined in legislation to succeed in Australia, he said there was room to start the conversation. He said in the US when a company sought a merger, the general presumption was that the merger would be anti-competitive with higher levels of concentration. "And the presumption shifts to the merger parties to prove why this is the exception to the rule and the economic wisdom and it good for the economy," he said. (news.financializer.com). As reported in the news.