Again, there are two things. First, I want to know those studies. I want to get into the weeds of those studies, because they often rely on things like industry codes, which are not the same thing as markets. I'm not denying it, but I'm not sure. From what I've seen, I think there are competing views on that. That's point A.
Point B, if we're thinking about competition law, I take your point. There are lots of ways in which we can influence competition outside of competition law. However, if we're looking at competition law's impact, I think that, even if there were a trend toward more concentration, I'd want to interrogate whether or not competition law and its enforcement had anything to do with that.
I worry sometimes that people go down a chain of reasoning too quickly from, first of all, there are increasing concentration and profit margins, to this is the result of a failure of competition law enforcement. I think both of those steps are contestable. I'm not saying they're not there, but they're contestable.