1. A Firm-Level Perspective on the Role of Rents in the Rise in Inequality

Joseph Stiglitz has been an intellectual mentor to both of us for the past two decades, a period that looms large in our lives, but which today’s celebration reminds us is just a fraction of the fifty years that Joe has been teaching students and inspiring policymakers. In Joe’s honor, we thought it appropriate to collaborate on a paper that explores two of his core interests: the rise in inequality and how the assumption of a perfectly competitive marketplace is often misguided.

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