Who Benefits from Progress?

Alexander Tabarrok () and Tyler Cowen

Kyklos, 1998, vol. 51, issue 3, pages 379-97

Abstract: Progress is better for some consumers than for others. The authors analyze the factors governing how much a consumer gains from progress, defined as price declines and the introduction of new and improved products, and they show how these factors vary systematically across consumer groups. Recent economic developments have brought increasing disagreement about the performance of the American and European economies. Economists typically try to account for these dual and contrasting perspectives by citing the increasing gap between the wages of skilled and unskilled labor. The authors examine differential consumer gains as another factor which may account for the contrasting perspectives. Copyright 1998 by WWZ and Helbing & Lichtenhahn Verlag AG

Date: 1998

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