Changes in firm strategy and structure partially explain the sources and consequences of
rising wealth inequality in America. Combining use of state-created monopolies around …

Explanations for slow global growth (secular stagnation) correctly focus on income
inequality and wage formation but are incomplete. They ignore the source of wages and fail …

There are few things–perhaps only one–that can arouse the passions of human beings as
much as wealth. Humans need material objects to survive. But as social creatures, human …

For years, America has been plagued by slow economic growth and increasing inequality. In
The Captured Economy, Brink Lindsey and Steven M. Teles identify a common factor behind …

Joseph Stiglitz has been an intellectual mentor to both of us for the past two decades, a
period that looms large in our lives, but which today's celebration reminds us is just a fraction …

The concepts of rentiership and intellectual monopoly have gained increased prominence in
discussions about the transformation of global capitalism in recent years. However, there …

Our underlying hypothesis is that technological progress (even neutral) has a big effect on
distribution, not only on growth, since rising waves of technical progress cause rising …

Lack of competition can drive up prices of goods and services, with substantive negative
effects for the poor, whose consumption basket is dominated by first necessity goods and …

Can technological progress explain secular stagnation? We show how an excess of savings
over investment arises when innovative production requires creative human capital rather …

The US has run a persistent current account deficit since 1982. Its growth particularly
accelerated in the early 2000s, and the deficit peaked at about 6% of US GDP in 2006 …