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Regional income disparities, monopoly and finance

Maryann Feldman, Frederick Guy () and Simona Iammarino

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: The overall rise in inequality in the USA since 1980 has been matched by a rise in inequality between places; local and regional development policies aimed at reversing this polarisation have seen limited success. We propose an explanation for the spatial polarisation 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 programme.

Keywords: Regional income distribution; Monopoly; Technology clusters; Platforms; Financialization; Spatial inequality; LSE OA Fund (search for similar items in EconPapers)
JEL-codes: O33 R11 R12 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2020-12-31
New Economics Papers: this item is included in nep-cwa, nep-fdg, nep-geo, nep-his and nep-ure
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Published in Cambridge Journal of Regions, Economy and Society, 31, December, 2020, 0(0). ISSN: 1752-1378

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