<
https://jpia.princeton.edu/news/something-nothing-how-growing-rent-seeking-heart-americas-economic-troubles>
"The following paper studies three main questions:
First, What is the association between increasing concentration and labor and
profit shares?
Second, is this effect different across sectors?
Third, is this effect uniform across advanced economies?
The paper finds that while there is a negative relationship between
concentration and labor share and a positive relationship between concentration
and profit share, the result is more pronounced in the United States than in
similar advanced European economies. Moreover, the results are stronger for the
manufacturing sector than for the services sector. The paper concludes that
this evidence suggests that deviations from perfect competition are likely
explained by declining competition in the U.S., whereas these secular trends,
such as heterogeneous technology adoption and the declining price of capital,
are more likely at play in Europe. Consequently, the paper prioritizes
pre-distribution over redistribution."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
