James Bessen testified before the FTC, October 24, 2018.
Kristina McElheran cited in Harvard Business Review
Across all major sectors of the economy, proprietary information technology is increasing the market dominance of large firms, which is evidence of a slowdown in the spread of technical knowledge throughout the economy. The result is rising industry concentration, slower productivity growth and growing wage inequality. The key challenge to IP and antitrust policy will be counter this trend yet maintain innovation incentives.
David Autor with David Dorn, Lawrence F. Katz, Christina Patterson, and John Van Reenen
Since 1980, US corporate valuations have risen relative to assets and operating margins have grown. The possibility of sustained economic rents has raised concerns about economic dynamism and inequality. But rising profits could come from political rents or, instead, from returns to investments in intangibles. This paper explores these factors using new data on Federal regulation and data on lobbying, campaign spending, R&D, and organizational capital.