A new paper assesses the contributions of education and labor markets to differences across regional labor markets in the United States and finds that differences in access to high-quality elementary and secondary schools are not a key channel driving the strength of the association between parents’ incomes and their children’s incomes when they reach adulthood.
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We normally think of income inequality as a function of differences in class or socioeconomic status. But much more than generally realized, geographic differences are a major source of inequality as well, argue Brink Lindsey and Steven Teles in this extract from their new book The Captured Economy.
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A new paper by Thomas Piketty finds that major parties on both sides of the political spectrum have been captured by elites and warns of a future political system that pits “globalists” against “nativists.”
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Richard Baldwin, professor of international trade at the Graduate Institute of Geneva and editor-in-chief of VoxEU.org, talks to ProMarket about the convergence between the G7 and emerging countries, the United States’ failure to build a social contract to mediate the changes of globalization, and his confidence that—rumors of trade war notwithstanding—the international trade regime is actually quite resilient.
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In an interview with ProMarket, Harvard economist Dani Rodrik explained where globalization went wrong, how trade agreements serve rent-seeking by politically well-connected firms, and why the only solution to the rise of political populism is an economic populism that reimagines the institutions of capitalism.
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Early childcare can be a major contributor to eliminating inequality of opportunity and even lay the foundations for a more productive workforce in the future.
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In an interview with ProMarket, Nobel Prize-winning economist Angus Deaton talks about the connection of rent-seeking and monopolization to rising inequality.
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A new paper challenges Thomas Piketty’s portrayal of an income distribution dominated at the top by passive rentiers who do nothing to earn their money, arguing that income inequality in America today is driven by the working rich.
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A new study by the United Nations Conference on Trade and Development argues: The “endemic rent-seeking that stems from market concentration, heightened corporate power, and regulatory capture” has spread beyond the United States, leading to the emergence of “global rentier capitalism.״
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A Stigler Center panel debates: Is rising inequality connected to monopolies, rent-seeking, and concentration?
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Is the rise of wealth inequality in the United States related to a decline in competition? A new paper answers in the affirmative.
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University of Michigan professor Daniel Crane: “The story that somehow antitrust law is dead, that it’s been killed, is wrong. It hasn’t. It’s very active.”
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