GET https://rct.dev.bbntimes.com/global-economy/superstar-firms-and-cities

ArticleController :: show

Request

GET Parameters

None

POST Parameters

None

Uploaded Files

None

Request Attributes

Key Value
_controller
"App\Controller\ArticleController::show"
_firewall_context
"security.firewall.map.context.main"
_links
Symfony\Component\WebLink\GenericLinkProvider {#3630
  -links: [
    3751 => Symfony\Component\WebLink\Link {#3751
      -href: "/build/runtime.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3749 => Symfony\Component\WebLink\Link {#3749
      -href: "/build/644.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3748 => Symfony\Component\WebLink\Link {#3748
      -href: "/build/502.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3747 => Symfony\Component\WebLink\Link {#3747
      -href: "/build/app.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3746 => Symfony\Component\WebLink\Link {#3746
      -href: "/build/view-more.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3745 => Symfony\Component\WebLink\Link {#3745
      -href: "/build/term-condition.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3744 => Symfony\Component\WebLink\Link {#3744
      -href: "/build/contact.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3743 => Symfony\Component\WebLink\Link {#3743
      -href: "/build/scroll-infinite-article.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3742 => Symfony\Component\WebLink\Link {#3742
      -href: "/build/app.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3741 => Symfony\Component\WebLink\Link {#3741
      -href: "/build/cookie-style.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3740 => Symfony\Component\WebLink\Link {#3740
      -href: "/build/term-condition-css.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3739 => Symfony\Component\WebLink\Link {#3739
      -href: "/build/contact-css.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3738 => Symfony\Component\WebLink\Link {#3738
      -href: "/build/comment-css.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
  ]
}
_route
"article_show"
_route_params
[
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  "slug" => "superstar-firms-and-cities"
]
_security_firewall_run
"_security_main"
_stopwatch_token
"ae2ee3"
category
"global-economy"
slug
"superstar-firms-and-cities"

Request Headers

Header Value
accept
"*/*"
accept-encoding
"gzip, br, zstd, deflate"
connection
"close"
cookie
"PHPSESSID=9dgocvi5tuga0c71tspn1qbctm"
host
"rct.dev.bbntimes.com"
user-agent
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
x-php-ob-level
"1"

Request Content

Request content not available (it was retrieved as a resource).

Response

Response Headers

Header Value
cache-control
"no-cache, private"
content-type
"text/html; charset=UTF-8"
date
"Sat, 22 Feb 2025 08:46:34 GMT"
link
"</build/runtime.js>; rel="preload"; as="script",</build/644.js>; rel="preload"; as="script",</build/502.js>; rel="preload"; as="script",</build/app.js>; rel="preload"; as="script",</build/view-more.js>; rel="preload"; as="script",</build/term-condition.js>; rel="preload"; as="script",</build/contact.js>; rel="preload"; as="script",</build/scroll-infinite-article.js>; rel="preload"; as="script",</build/app.css>; rel="preload"; as="style",</build/cookie-style.css>; rel="preload"; as="style",</build/term-condition-css.css>; rel="preload"; as="style",</build/contact-css.css>; rel="preload"; as="style",</build/comment-css.css>; rel="preload"; as="style""
x-debug-token
"cb69ae"

Cookies

Request Cookies

Key Value
PHPSESSID
"9dgocvi5tuga0c71tspn1qbctm"

Response Cookies

No response cookies

Session 6

Session Metadata

Key Value
Created
"Sat, 22 Feb 25 08:46:22 +0000"
Last used
"Sat, 22 Feb 25 08:46:31 +0000"
Lifetime
0

Session Attributes

Attribute Value
_csrf/https-comment
"bsAhc0kLv2emsPuAzADv6rSYMuI0sinQI37jbXQ1U5o"
_csrf/https-cookie_accept
"5uKmLvNvf618MRobGsSBL3ayE3pcT4BNUSLMow_3Yho"

Session Usage

6 Usages
Stateless check enabled
Usage
Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:76
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:79
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:52
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    "function" => "handleRaw"
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    "line" => 197
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
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  [
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    "line" => 35
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\Kernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    "line" => 29
    "function" => "run"
    "class" => "Symfony\Component\Runtime\Runner\Symfony\HttpKernelRunner"
    "type" => "->"
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    "line" => 5
    "args" => [
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    ]
    "function" => "require_once"
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]
Symfony\Component\Security\Core\Authentication\Token\Storage\UsageTrackingTokenStorage:41
[
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    "line" => 41
    "function" => "getMetadataBag"
    "class" => "Symfony\Component\HttpFoundation\Session\Session"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/twig-bridge/AppVariable.php"
    "line" => 103
    "function" => "getToken"
    "class" => "Symfony\Component\Security\Core\Authentication\Token\Storage\UsageTrackingTokenStorage"
    "type" => "->"
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/twig/twig/src/Extension/CoreExtension.php"
    "line" => 1635
    "function" => "getUser"
    "class" => "Symfony\Bridge\Twig\AppVariable"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/var/cache/dev/twig/a4/a456f2f504a18cd81037fa69e543310c.php"
    "line" => 200
    "function" => "twig_get_attribute"
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  [
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    "line" => 394
    "function" => "doDisplay"
    "class" => "__TwigTemplate_824a013e4f3f4a68e03a2d244e765025"
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    "line" => 367
    "function" => "displayWithErrorHandling"
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    "line" => 379
    "function" => "display"
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    "function" => "render"
    "class" => "Twig\Template"
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  [
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    "line" => 280
    "function" => "render"
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    "function" => "render"
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    "line" => 453
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    "line" => 253
    "function" => "doRender"
    "class" => "Symfony\Bundle\FrameworkBundle\Controller\AbstractController"
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    "function" => "render"
    "class" => "Symfony\Bundle\FrameworkBundle\Controller\AbstractController"
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    "line" => 181
    "function" => "renderHeader"
    "class" => "App\Controller\AppController"
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  [
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    "line" => 76
    "function" => "handleRaw"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpCache/SubRequestHandler.php"
    "line" => 86
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/Fragment/InlineFragmentRenderer.php"
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    "function" => "handle"
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    "class" => "Symfony\Component\HttpKernel\Fragment\InlineFragmentRenderer"
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  [
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    "function" => "render"
    "class" => "Symfony\Component\HttpKernel\Fragment\FragmentHandler"
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  [
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    "function" => "render"
    "class" => "Symfony\Component\HttpKernel\DependencyInjection\LazyLoadingFragmentHandler"
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  [
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    "function" => "renderFragment"
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  [
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  [
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    "function" => "displayWithErrorHandling"
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    "function" => "display"
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    "line" => 394
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/twig/twig/src/Template.php"
    "line" => 367
    "function" => "displayWithErrorHandling"
    "class" => "Twig\Template"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/twig/twig/src/Template.php"
    "line" => 379
    "function" => "display"
    "class" => "Twig\Template"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/twig/twig/src/TemplateWrapper.php"
    "line" => 38
    "function" => "render"
    "class" => "Twig\Template"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/twig/twig/src/Environment.php"
    "line" => 280
    "function" => "render"
    "class" => "Twig\TemplateWrapper"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/framework-bundle/Controller/AbstractController.php"
    "line" => 448
    "function" => "render"
    "class" => "Twig\Environment"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/framework-bundle/Controller/AbstractController.php"
    "line" => 453
    "function" => "doRenderView"
    "class" => "Symfony\Bundle\FrameworkBundle\Controller\AbstractController"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/framework-bundle/Controller/AbstractController.php"
    "line" => 253
    "function" => "doRender"
    "class" => "Symfony\Bundle\FrameworkBundle\Controller\AbstractController"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/src/Controller/ArticleController.php"
    "line" => 277
    "function" => "render"
    "class" => "Symfony\Bundle\FrameworkBundle\Controller\AbstractController"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 181
    "function" => "show"
    "class" => "App\Controller\ArticleController"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 76
    "function" => "handleRaw"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
    "type" => "->"
  ]
  [
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    "line" => 197
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
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  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/runtime/Runner/Symfony/HttpKernelRunner.php"
    "line" => 35
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\Kernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    "line" => 29
    "function" => "run"
    "class" => "Symfony\Component\Runtime\Runner\Symfony\HttpKernelRunner"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
    "line" => 5
    "args" => [
      "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    ]
    "function" => "require_once"
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]
Symfony\Component\Security\Http\Firewall\ContextListener:171
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-http/Firewall/ContextListener.php"
    "line" => 171
    "function" => "remove"
    "class" => "Symfony\Component\HttpFoundation\Session\Session"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/Debug/WrappedListener.php"
    "line" => 116
    "function" => "onKernelResponse"
    "class" => "Symfony\Component\Security\Http\Firewall\ContextListener"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/EventDispatcher.php"
    "line" => 220
    "function" => "__invoke"
    "class" => "Symfony\Component\EventDispatcher\Debug\WrappedListener"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/EventDispatcher.php"
    "line" => 56
    "function" => "callListeners"
    "class" => "Symfony\Component\EventDispatcher\EventDispatcher"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/Debug/TraceableEventDispatcher.php"
    "line" => 139
    "function" => "dispatch"
    "class" => "Symfony\Component\EventDispatcher\EventDispatcher"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 214
    "function" => "dispatch"
    "class" => "Symfony\Component\EventDispatcher\Debug\TraceableEventDispatcher"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 202
    "function" => "filterResponse"
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    "type" => "->"
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  [
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    "line" => 76
    "function" => "handleRaw"
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    "type" => "->"
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  [
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    "line" => 197
    "function" => "handle"
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    "type" => "->"
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  [
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    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\Kernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
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    "function" => "run"
    "class" => "Symfony\Component\Runtime\Runner\Symfony\HttpKernelRunner"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
    "line" => 5
    "args" => [
      "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    ]
    "function" => "require_once"
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]

Flashes

Flashes

No flash messages were created.

Server Parameters

Server Parameters

Defined in .env

Key Value
APP_ENV
"dev"
APP_SECRET
"0a988e63f011514eaabfc650b599af4d"
CORS_ALLOW_ORIGIN
"*"
DATABASE_URL
"mysql://bbndb_rctuser:33F5W25z40or0f7@localhost:3306/rct_bbntimes"
GOOGLE_RECAPTCHA_SECRET_KEY
"6LdV5fgpAAAAANxzTG8ZMfIjil1wu-1vrQvnUt-x"
GOOGLE_RECAPTCHA_SITE_KEY
"6LdV5fgpAAAAAENKcn73MJAhQrbtQeqgyC4wDLMP"
MAILER_DSN
"smtp://no-reply%40rct.dev.bbntimes.com:Bl6%26gLD48%26Of919@rct.dev.bbntimes.com:465"
MARIADB_PASSWORD
"i!87pK&!85ezc8"

Defined as regular env variables

Key Value
APP_DEBUG
"1"
BASE
"/public"
CONTEXT_DOCUMENT_ROOT
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
CONTEXT_PREFIX
""
DOCUMENT_ROOT
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
FCGI_ROLE
"RESPONDER"
GATEWAY_INTERFACE
"CGI/1.1"
HTTPS
"on"
HTTP_ACCEPT
"*/*"
HTTP_ACCEPT_ENCODING
"gzip, br, zstd, deflate"
HTTP_CONNECTION
"close"
HTTP_COOKIE
"PHPSESSID=9dgocvi5tuga0c71tspn1qbctm"
HTTP_HOST
"rct.dev.bbntimes.com"
HTTP_USER_AGENT
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY
"0"
PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY
"0"
PATH
"/usr/local/sbin:/usr/local/bin:/usr/sbin:/usr/bin:/sbin:/bin:/snap/bin"
PHP_SELF
"/public/index.php"
PP_CUSTOM_PHP_CGI_INDEX
"plesk-php81-fastcgi"
PP_CUSTOM_PHP_INI
"/var/www/vhosts/system/rct.dev.bbntimes.com/etc/php.ini"
QUERY_STRING
""
REDIRECT_BASE
"/public"
REDIRECT_HTTPS
"on"
REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY
"0"
REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY
"0"
REDIRECT_REDIRECT_HTTPS
"on"
REDIRECT_REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY
"0"
REDIRECT_REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY
"0"
REDIRECT_REDIRECT_SCRIPT_URI
"https://rct.dev.bbntimes.com/global-economy/superstar-firms-and-cities"
REDIRECT_REDIRECT_SCRIPT_URL
"/global-economy/superstar-firms-and-cities"
REDIRECT_REDIRECT_SSL_TLS_SNI
"rct.dev.bbntimes.com"
REDIRECT_REDIRECT_STATUS
"200"
REDIRECT_REDIRECT_UNIQUE_ID
"Z7mO6ZDyWLT8YV1VjBo-dAAAAIM"
REDIRECT_SCRIPT_URI
"https://rct.dev.bbntimes.com/global-economy/superstar-firms-and-cities"
REDIRECT_SCRIPT_URL
"/global-economy/superstar-firms-and-cities"
REDIRECT_SSL_TLS_SNI
"rct.dev.bbntimes.com"
REDIRECT_STATUS
"200"
REDIRECT_UNIQUE_ID
"Z7mO6ZDyWLT8YV1VjBo-dAAAAIM"
REDIRECT_URL
"/public/global-economy/superstar-firms-and-cities"
REMOTE_ADDR
"18.222.115.88"
REMOTE_PORT
"35572"
REQUEST_METHOD
"GET"
REQUEST_SCHEME
"https"
REQUEST_TIME
1740213993
REQUEST_TIME_FLOAT
1740213993.0967
REQUEST_URI
"/global-economy/superstar-firms-and-cities"
SCRIPT_FILENAME
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
SCRIPT_NAME
"/public/index.php"
SCRIPT_URI
"https://rct.dev.bbntimes.com/global-economy/superstar-firms-and-cities"
SCRIPT_URL
"/global-economy/superstar-firms-and-cities"
SERVER_ADDR
"5.196.1.209"
SERVER_ADMIN
"[no address given]"
SERVER_NAME
"rct.dev.bbntimes.com"
SERVER_PORT
"443"
SERVER_PROTOCOL
"HTTP/1.1"
SERVER_SIGNATURE
"<address>Apache Server at rct.dev.bbntimes.com Port 443</address>\n"
SERVER_SOFTWARE
"Apache"
SSL_TLS_SNI
"rct.dev.bbntimes.com"
SYMFONY_DOTENV_VARS
"APP_ENV,APP_SECRET,DATABASE_URL,MARIADB_PASSWORD,CORS_ALLOW_ORIGIN,MAILER_DSN,GOOGLE_RECAPTCHA_SECRET_KEY,GOOGLE_RECAPTCHA_SITE_KEY"
UNIQUE_ID
"Z7mO6ZDyWLT8YV1VjBo-dAAAAIM"

Sub Requests 5

CookieController :: renderAnalysis (token = ea6e14)

Key Value
_controller
"App\Controller\CookieController::renderAnalysis"
_format
"html"
_locale
"en"
_stopwatch_token
"6352a6"

ArticleController :: trendingArticle (token = 835a07)

Key Value
_controller
"App\Controller\ArticleController::trendingArticle"
_format
"html"
_locale
"en"
_stopwatch_token
"4bd8fa"
category
"Global Economy"

ArticleController :: relatedArticles (token = ede90b)

Key Value
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"App\Controller\ArticleController::relatedArticles"
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"html"
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"en"
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"b7b791"
current_article
App\Entity\Article {#1094
  -id: 3027
  -title: "Superstar Firms and Cities"
  -slug: "superstar-firms-and-cities"
  -introtext: "<p><span style="color: #000000;">Imagine two people who have seemingly equal skills and background. They go to work for two different companies. However, one "superstar" company grows much faster, so that wages and opportunities in that company also grow much faster. Or they go to work in two different cities. One "superstar" urban economy grows much faster, so that wages and opportunities in that city also grow faster.</span></p>\r\n"
  -content: """
    \r\n
    <p><span style="color: #000000;">Of course, such patterns of unequal growth have always existed&nbsp; to some extent. When evaluating a potential employer or location choice, people&nbsp; have always taken into account the potential for joining a superstar performer. The interesting question is whether the gap between superstar and ordinary firms, or between superstar and ordinary cities, has been growing or changing over time. For example, some argue that</span>&nbsp;<a href="http://conversableeconomist.blogspot.com/2017/03/how-between-firm-inequality-drives.html">the rise of superstar firms, and the resulting rise in between-firm performance and labor compentiation, can explain most of the rise in US income inequality</a>.<br /><br />The&nbsp;<a href="https://www.mckinsey.com/featured-insights/innovation-and-growth/superstars-the-dynamics-of-firms-sectors-and-cities-leading-the-global-economy">McKinsey Global Institute has a nice report summarizing past evidence and offering new evidence of their own in&nbsp;<i>Superstars: The Dynamics of Firms, Sectors, and Cities Leading the Global Economy</i>&nbsp;</a>(<span style="color: #000000;">October 2018). It's written by a team led by James Manyika, Sree Ramaswamy, Jacques Bughin, Jonathan Woetzel, Michael Birshan, and Zubin Nagpal. Short summary: Superstar firms and cities do seem to be widening their economic leadership gap, with the evidence that certain sectors are superstars seems weaker.</span><br /><br /><span style="color: #000000;">For superstar firms, the report notes:</span></p>\r\n
    <p><span style="color: #000000;">"For firms, we analyze nearly 6,000 of the world’s largest public and private firms, each with annual revenues greater than $1 billion, that together make up 65 percent of global&nbsp;corporate pretax earnings. In this group, economic profit is distributed along a power&nbsp;curve, with the top 10 percent of firms capturing 80 percent of economic profit among&nbsp;companies with annual revenues greater than $1 billion. We label companies in this top&nbsp;10 percent as superstar firms. The middle 80 percent of firms record near-zero economic&nbsp;profit in aggregate, while the bottom 10 percent destroys as much value as the top&nbsp;10 percent creates. The top 1 percent by economic profit, the highest economic-value-creating&nbsp;firms in our sample, account for 36 percent of all economic profit for companies with annual revenues greater than $1 billion. Over the past 20 years, the gap has widened between superstar firms and median firms,&nbsp;and also between the bottom 10 percent and median firms. ... The growth of economic profit at the top end of the distribution is thus mirrored at the bottom end by growing and increasingly persistent economic losses ..."</span></p>\r\n
    <div><span style="color: #000000;">Here's an illustrative figure, showing firms by decile, and comparing the time windows from 1995-97 and from 2014-2016.<br /><br /></span></div>\r\n
    <div class="separator"><a href="https://2.bp.blogspot.com/-IIwuhEvyiRM/W-2faNx6pXI/AAAAAAAAJQ0/LafPnrAh0k4SBoM__bNgz7osOTQvwNw9wCLcBGAs/s1600/superstar%2B1.jpg"><img src="https://2.bp.blogspot.com/-IIwuhEvyiRM/W-2faNx6pXI/AAAAAAAAJQ0/LafPnrAh0k4SBoM__bNgz7osOTQvwNw9wCLcBGAs/s400/superstar%2B1.jpg" alt="" width="400" height="315" border="0" data-original-height="608" data-original-width="770" /></a></div>\r\n
    <p><br /><span style="color: #000000;">Some other patterns are that the superstar firms "come from all sectors and regions and include global banks and manufacturing companies, long-standing&nbsp;Western consumer brands, and fast-growing US and Chinese tech firms. The sector and&nbsp;geographic diversity of firms in the top 10 percent and the top 1 percent by economic&nbsp;profit is greater today than 20 years ago." Along with being more profitable, superstar firms spend more on R&amp;D and on intangible investments like&nbsp;intellectual property, software, and brand value. In additinon, the rate of movement (or the "churn") in and out of the deciles doesn't seem to have changed much over time.&nbsp;</span></p>\r\n
    <div>\r\n
    <div><span style="color: #000000;">"In the top 1 percent by economic profit, only one out of every six of today’s superstar firms has been there for the past three decades. They are mostly American and European&nbsp;consumer goods and technology firms that have survived, often through reinvention and&nbsp;adaptation to a changing environment and sustained investment, and they own some of the&nbsp;world’s most familiar brands: 26. They include Altria, Coca-Cola, Intel, Johnson &amp; Johnson, Merck, Microsoft, Nestle, and Novartis. They are joined by several other firms that have&nbsp;stayed in the top ranks for two-thirds or more of the past 30 years and that come from a&nbsp;broader set of regions and sectors. These include firms such as Samsung, Toyota, and&nbsp;Walmart, and they make up another one-sixth of the top 1 percent."</span>\r\n
    <div><br /><span style="color: #000000;">The analysis also identifies 50 superstar cities, with a map below.</span><br /><br /></div>\r\n
    </div>\r\n
    <div><span style="color: #000000;">"Fifty cities are superstars by our definition ... The 50 cities account for 8 percent of global population,&nbsp;21 percent of world GDP, 37 percent of urban high-income households, and 45 percent&nbsp;of headquarters of firms with more than $1 billion in annual revenue. The average GDP per capita in these cities is 45 percent higher than that of peers in the same region and&nbsp;income group, and the gap has grown over the past decade. ... The growth of superstar cities is fueled by gains in labor income and wealth from real estate and investor income, yet many show higher rates of income inequality within the cities than peers. ... Of the 50 superstar cities, 31 are ranked among the most globally integrated cities, 27 among the world’s 50 most innovative cities, 26 among the world’s top 50&nbsp;financial centers, and 23 among the world’s 50 “digitally smartest” cities. Twenty-two are&nbsp;national and regional capitals, while 22 are among the world’s largest container ports."&nbsp;</span><br /><br /></div>\r\n
    <div class="separator"><a href="https://4.bp.blogspot.com/-CR4yUvoul_Q/W-2g1QGTZyI/AAAAAAAAJRA/JeDhw-tdPiIubXWfK0cTQ0dxEQhbh8BqACLcBGAs/s1600/superstar%2B2.jpg"><img src="https://4.bp.blogspot.com/-CR4yUvoul_Q/W-2g1QGTZyI/AAAAAAAAJRA/JeDhw-tdPiIubXWfK0cTQ0dxEQhbh8BqACLcBGAs/s400/superstar%2B2.jpg" alt="" width="398" height="400" border="0" data-original-height="772" data-original-width="771" /></a></div>\r\n
    <div>&nbsp;</div>\r\n
    <div>\r\n
    <p class="p1"><span class="s1"><br /> For individuals thinking about potential employers, and for individuals and firms thinking about location decisions, it's useful to consider the potential gains of being connected to a superstar firm or city.&nbsp;</span></p>\r\n
    <p class="p3"><span class="s1">For a national economy, a different question arises. What is the "special sauce" that superstar companies and cities are using to achieve their outsized and growing levels of productivity and income? Companies and cities will always differ, of course. But the rising advantage of superstars raises a question of how at least some of those practices and policies might be more broadly disseminated across the rest of the economy.</span><span class="s1"></span></p>\r\n
    <p class="p3"><span class="s1">A version of this article first appeared on <a href="http://conversableeconomist.blogspot.com/2018/11/superstar-firms-and-cities.html"><span class="s2">Conversable Economist</span></a>.&nbsp;</span>&nbsp;</p>\r\n
    </div>\r\n
    </div>
    """
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  -metakey: ""
  -metadesc: "Imagine two people who have seemingly equal skills and background. They go to work for two different companies. However, one "superstar" company grows much faster, so that wages and opportunities in that company also grow much faster. Or they go to work in two different cities. One "superstar" urban economy grows much faster, so that wages and opportunities in that city also grow faster."
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AppController :: renderFooter (token = f8a5e1)

Key Value
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"App\Controller\AppController::renderFooter"
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"html"
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"en"
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"68c31a"

CookieController :: renderCookie (token = 5fc535)

Key Value
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"App\Controller\CookieController::renderCookie"
_format
"html"
_locale
"en"
_stopwatch_token
"495155"