Joshua Gans, Andrew Leigh, Martin C. Schmalz, Adam Triggs — How Market Power Worsens Income Inequality

Summary:
Our study aims to help draw together two strands of literature. As the World Inequality Report recently showed, most advanced nations have seen an increase in inequality over the past generation. Meanwhile, a growing body of evidence points to an increase in market power, both in terms of rising market concentration and increasing markups. A burgeoning literature suggests that superstar firms are capturing increasingly high market shares, allowing them to use their market position to earn excess profits. Given the inequality in stock ownership, market power may continue to increase inequality in the future.... ProMarketHow Market Power Worsens Income Inequality Joshua Gans, Andrew Leigh, Martin C. Schmalz, Adam Triggs

Topics:
Mike Norman considers the following as important: inequality, market concentration, market power, monopoly power

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