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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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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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