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The Market Power of Technology: Understanding the Second Gilded Age
Abstract
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.
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“Concentrated firms can also use market power to erect barriers to entry for other firms in ways that further dampen competition, which can reduce investment in innovation, as established firms may have fewer incentives to innovate if they are less likely to be challenged by new ideas, products, or systems introduced by incoming firms (Eeckhout 2021; Kurz 2023).”
From Corporate concentration and power matter for agency in food systems (2025) · cites this paper as Kurz 2023
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Corporate concentration and power matter for agency in food systems
Clapp, J., Vriezen, R., Laila, A., Conti, C., Gordon, L., Hicks, C., & Rao, N. (2025) · Food Policy · doi:10.1016/j.foodpol.2025.102897 · Cited by 64
Algorithmic attention rents: A theory of digital platform market power
O’Reilly, T., Strauss, I., & Mazzucato, M. (2024) · Data & Policy · doi:10.1017/dap.2024.1 · Cited by 37
Peer influence, market power, and enterprises' green innovation: Evidence from Chinese listed firms
Gu, J. (2023) · Corporate Social Responsibility and Environmental Management · doi:10.1002/csr.2555 · Cited by 29
Blurring Boundaries: An Analysis of the Digital Platforms-Military Nexus
Coveri, A., Cozza, C., & Guarascio, D. (2024) · Review of Political Economy · doi:10.1080/09538259.2024.2395832 · Cited by 14
The barriers to sustainable risk transfer in the cyber-insurance market
Skeoch, H. R. K., & Ioannidis, C. (2024) · Journal of Cybersecurity · doi:10.1093/cybsec/tyae003 · Cited by 11
Metadata
- Authors
- Kurz, M.
- Corresponding author
- Kurz, Mordecai
- Venue
- Columbia University Press eBooks
- Publisher
- Columbia University Press
- Published
- 2023-07-06
- OpenAlex
- W4387754424
- Cited by
- 32
- References
- 0
- Citations by year
- 2026: 13 · 2025: 8 · 2024: 8 · 2023: 3
- FWCI
- 17.55
- Type
- book
- Language
- en
- Open access
- closed
- Locations
- Columbia University Press eBooks (publishedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
- Social Sciences › Sociology and Political Science › Income, Poverty, and Inequality
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
- Keywords
- market power, technological innovation, income inequality, wealth inequality, economic growth, technological progress, market dynamics, industrial organization
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- CoChat. (2026). Citation check: The Market Power of Technology: Understanding the Second Gilded Age. https://app.cochat.ai/papers/10.7312/kurz20652
- The paper
- Kurz, M. (2023). The Market Power of Technology: Understanding the Second Gilded Age. Columbia University Press eBooks. https://doi.org/10.7312/kurz20652