On the Formation of Capital and Wealth: IT, Monopoly Power and Rising Inequality

@article{Kurz2017OnTF,
  title={On the Formation of Capital and Wealth: IT, Monopoly Power and Rising Inequality},
  author={Mordecai Kurz},
  journal={Information Systems \& Economics eJournal},
  year={2017}
}
  • Mordecai Kurz
  • Published 2017
  • Economics
  • Information Systems & Economics eJournal
Our underlying hypothesis is that technological progress (even neutral) has a big effect on distribution, not only on growth, since rising waves of technical progress cause rising monopoly power. We test it by showing that, since the 1970's, information technology (in short IT) has caused rising monopoly power, which explains rising inequality, slow growth of wages and low level of investment since the 1970's. This monopoly power is legally protected by patent laws, intellectual property rights… Expand
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