Stephanie BlankenburgSince the 2008 financial crisis, policymakers and international institutions have regularly expressed concerns about widening income inequality and its unwelcome political consequences. More often than not, they attribute the problem to “exogenous” factors such as global trade and new technologies.
While policymakers have intensified their focus on trade and new technologies, they have missed an even more potent driver of inequality: the endemic rent-seeking that stems from market concentration, heightened corporate power, and regulatory capture.
