“The most shocking observation is that the median markup, the markup of the firm exactly in the middle of the distribution, has remained unchanged. This tells us that for at least half of the firms, there has been no rise in markups at all! Yet, at the same time, markups for a few firms have grown outlandishly. The ninetieth percentile of the markup distribution—those firms with the highest markups—has grown from 1.5 in 1980 to a whopping 2.5 in 2016. Ten percent of the firms now sell their goods 250 percent above cost!”