Econ Focus
First Quarter 2018
![Cover for First Quarter 2018 issue](/-/media/RichmondFedOrg/assets/images/publications/research/econ_focus/2018_q1/econfocus_2018q1_cover_thumb.jpg?h=158&w=122&la=en&hash=C848FB4769545A6DF7EAF57322D9E010)
Cover Story
Industries are increasingly concentrated in the hands of fewer firms. But is that a bad thing?
Features
Paying for Success
State and local governments are trying a new financing model for social programs
![Cows](/-/media/RichmondFedOrg/assets/images/publications/research/econ_focus/2018_q1/econfocus_2018q1_f2_thumb.jpg?h=100&w=100&la=en&hash=DF355703DB73B14426315C5A1B61D5DC)
Do Entrepreneurs Pay to Be Entrepreneurs?
Some small-business owners are motivated more by values than financial gain
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