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Regional income disparities, monopoly and finance

Feldman, Maryann, Guy, Frederick and Iammarino, Simona (2020) Regional income disparities, monopoly and finance. Cambridge Journal of Regions, Economy and Society. ISSN 1752-1378 (In Press)

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Abstract

The overall rise in inequality in the U.S. since 1980 has been matched by a rise in inequality between places; local and regional development policies aimed at reversing this polarization have seen limited success. We propose an explanation for the spatial polarization of prosperity and the failure of the policies to remedy it. Our explanation is based on the interaction of monopoly power, agglomeration economies in technology clusters, and the power of financial sector actors over non-financial firms – all phenomena characteristic of the post-1980 economy. We review evidence for each of these elements and propose some causal relationships between them, as an outline of an ongoing research program.

Item Type: Article
Official URL: https://academic.oup.com/cjres
Divisions: Geography & Environment
Date Deposited: 28 Jul 2020 10:21
Last Modified: 12 Oct 2020 14:52
URI: http://eprints.lse.ac.uk/id/eprint/105807

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