Joan Robinson, Efficiencies from Concentration, and the Evolution of Competition Policy

British economist Joan Robinson’s profound contributions to industrial economics still resonate across a wide range of subject matter. Her work is particularly relevant in the context of heightened concerns over whether product market concentration in developed Western economies has, in recent decades, resulted in both increased market power and increased buyer power – and whether this, in turn, has led to a rise in inequality and a decline in the share of value accruing to labor. At the sam