The Market Power of Technology: Understanding the Second Gilded Age
- 9h 49m
- Mordecai Kurz
- De Gruyter Inc
- 2023
Mordecai Kurz develops a comprehensive integrated theory of the dynamics of market power and income inequality. He shows that technological innovations are not simply sources of growth and progress: they sow the seeds of market power. Technological market power tends to rise, increasing inequality of income and wealth.
About the Author
Mordecai Kurz is Joan Kenney Professor of Economics Emeritus at Stanford University. His books include Public Investment, the Rate of Return, and Optimal Fiscal Policy (with Kenneth J. Arrow, 1970) and Endogenous Economic Fluctuations: Studies in the Theory of Rational Beliefs (1997), and he has published widely across many fields of economic theory.
In this Book
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Suggested Nontechnical Reading of the Book
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Introduction—Why We Are in a Second Gilded Age and What We Can Do About It
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The Nexus of Market Power, Technology, and Public Policy
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Economic Growth Under the Effect of Market Power
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Monopoly Wealth and Intangible Capital
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Determinants of Market Power in the United States, 1889–2017
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The Effect of Market Power on the Diffusion of Innovations
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Market Power and Asset Prices, 1950-2019
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R&D and Technological Competition
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On Policy Reform
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Policy to Restrain the Expansion of Market Power
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Taxation, Public Investments, and Redistribution
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Concluding Remarks
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Bibliography
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