As a firm starts to dominate a market, the firm changes its business strategy from innovation to influence-seeking (known as rent-seeking). This figure charts the number of politicians per 100 white-collar employees. As firms get larger they become more politically connected; at the same time, these firms become less innovation intensive.
Leadership Paradox: Market Rank, Innovation, and Political Connection
Markups, Labor Market Inequality and the Nature of Work
Odds are, when you think of workers in a modern industrialized economy, you imagine all kinds of jobs, from those on factory floors and farms, to those in sales, marketing, and business development. You might also imagine that, over time, the percentage of people working in so-called blue-collar jobs, while still the majority, has decreased relative to white-collar workers.
Topics: Employment & Wages
In the early days of Microsoft, Bill Gates and Paul Allen did not need investors’...
Topics: Employment & Wages, Industrial Organization, Technology & Innovation
Spillover Impacts on Education from Employment Guarantees and Educational Investment Responses to Economic Opportunity: Evidence from Indian Road Construction
For most young people and their parents who live in high-income countries, the decision to attend school is an easy one. School is universally available and free through high school, schooling is mandatory through the age of 16, and most jobs require at least a high school degree. Dropping out of school all but ensures a lifetime of relatively low income.
Topics: Early Childhood Education, Economic Mobility & Poverty, Employment & Wages, Health care, K-12 Education