hard to evaluate sustained high profits without context. is it due to continued innovation by the firm? or just rent seeking? both can be causes of profits but we should only be promoting one of those models
Sure, although I think it gets easier as time goes on; there a are lot of innovative people out there. But my point here is more about the reaction to it. If people say, "Well they're making lots of money, so they must be great innovators, great managers, and generally virtuous", then that's basically a religious answer. People who see markets as tools for efficiency will say, "Look at those sustained high profits. Is it really that nobody has figured out how to compete with them yet? Or are they misusing their market power or wealth in ways that limit competition?"