Symbol K

The passage around this formula

…bar but sits well behind the frontier has little to sell. Durable consolidation around a few dominant, well-capitalised families needs both conditions cleared at once, not an average of them: $K(t) = \mathbb{1}\!\left[O(t) \ge o^{*}\right] \cdot \mathbb{1}\!\left[W(t) \ge w^{*}\right]$. K(t) stays low however high either term climbs alone. Axis A determines whether O(t) can plausibly clear $o^{*}$ within this article’s horizon; Axis B determines whether W(t) can. Neither can be inferred from the other, which is why they are kept as two axes rather than folded into one — and why a…

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