Monpolies and innovation

· January 7, 2019

From Lever of Riches, talking about the impact of the state and state structures on diffusion of innovations:

Monopolistic market structures among the innovating firms would thus be advantageous in this regard. The more monopolistic the industry, the larger will be the share of social benefits captured by producers at the expense of consumers, meaning that lobbying would more likely be met by successful counterlobbying. In a competitive industry, on the other hand, the gains from innovation are passed on to the consumers in the form of lower prices, and the benefits are thus diffuse. 

Indirect on tech in 2018.