Entrepreneurship and digital capitalism: an assessment of corporate power

Domenico Catalano

Cambridge Journal of Economics, 2022, vol. 46, issue 6, 1315-1339

Abstract: I propose verifying whether, in the context of “high-tech” capitalism, large companies have reinforced their control over innovation. The new digital economy has often been associated with the emergence of a market democracy which is favourable to new entrants through the adoption of innovative entrepreneurial approaches. The economic evolution resulting from the digital economy seems to call into question the findings of the theory of monopoly capitalism formulated in the context of industrial capitalism, which gives a central place to giant companies. The identification and exploitation of innovative opportunities were thus considered to be the prerogative of large firms, thus limiting the possibilities of market entry. Based on the analysis of 10,900 patent applications, I demonstrate that the control of innovation by Big Tech companies in the digital industry is stronger than in other industries and less favourable to new entrants.

Keywords: Concentration; Digital capitalism; Innovation; Entrepreneur (search for similar items in EconPapers)
Date: 2022
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