Knowledge and global inequality: Monopoly-cum-monopsony capitalism
By: Nathan, Dev
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Material type: 
BookPublisher: Economic and Political Weekly Description: 58(7), Feb 18, 2023: p.36-44.Subject(s): • Inter-country income inequality, Global capitalist economy, Contemporary, Knowledge monopolies, Monopsonies, Headquarter economies, Global North, Producer companies, Commoditized knowledge, Supplier economies, Global South, Income disparities, Concentration of knowledge, Economic power, Perpetuation, Exacerbation, Raw materials, Economic dependence, Distribution of economic power
In:
Economic and Political WeeklySummary: This paper seeks to explain the nature and basis of inter-country income inequality in the contemporary global capitalist economy. It characterises the current structure of the world economy as a combination of knowledge monopolies, which also become monopsonies, largely located in the headquarter economies of the global North, with producer companies largely based on commoditised knowledge in the supplier economies of the global South. This paper aims to provide a detailed explanation of the underlying factors contributing to income inequality between countries within the modern global capitalist economy. It analyzes the current configuration of the world economy, which is characterized by the presence of knowledge monopolies that often evolve into monopsonies. These monopolies are predominantly situated in the headquarters of economically dominant countries in the global North. Conversely, producer companies in the supplier economies of the global South heavily rely on commoditized knowledge.
The paper delves into the intricate nature of these knowledge monopolies and their impact on income disparities among countries. It highlights how the concentration of knowledge and its associated economic power in the global North perpetuates and exacerbates inter-country income inequality. In contrast, the economies of the global South primarily serve as suppliers of raw materials and commoditized knowledge, which further deepens their economic dependence on the dominant global North.
By examining the relationship between knowledge monopolies, monopsonies, and the distribution of economic power, this paper sheds light on the mechanisms through which inter-country income inequality is perpetuated within the contemporary global capitalist economy. It emphasizes the structural disparities between the headquarters economies of the global North and the supplier economies of the global South, shedding light on the intricate dynamics that contribute to the current global income inequality landscape.- Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 58(7), Feb 18, 2023: p.36-44 | Available | AR128522 |
This paper seeks to explain the nature and basis of inter-country income inequality in the contemporary global capitalist economy. It characterises the current structure of the world economy as a combination of knowledge monopolies, which also become monopsonies, largely located in the headquarter economies of the global North, with producer companies largely based on commoditised knowledge in the supplier economies of the global South. This paper aims to provide a detailed explanation of the underlying factors contributing to income inequality between countries within the modern global capitalist economy. It analyzes the current configuration of the world economy, which is characterized by the presence of knowledge monopolies that often evolve into monopsonies. These monopolies are predominantly situated in the headquarters of economically dominant countries in the global North. Conversely, producer companies in the supplier economies of the global South heavily rely on commoditized knowledge.
The paper delves into the intricate nature of these knowledge monopolies and their impact on income disparities among countries. It highlights how the concentration of knowledge and its associated economic power in the global North perpetuates and exacerbates inter-country income inequality. In contrast, the economies of the global South primarily serve as suppliers of raw materials and commoditized knowledge, which further deepens their economic dependence on the dominant global North.
By examining the relationship between knowledge monopolies, monopsonies, and the distribution of economic power, this paper sheds light on the mechanisms through which inter-country income inequality is perpetuated within the contemporary global capitalist economy. It emphasizes the structural disparities between the headquarters economies of the global North and the supplier economies of the global South, shedding light on the intricate dynamics that contribute to the current global income inequality landscape.- Reproduced
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