Introduction

In recent decades, there have been widespread global phenomena of inequalitiesInequality of income and wealth and the decrease in labor shareLabor share in the advanced countries and emerging economies since 1980s. This implies that stability of labor share as one of Kaldor’s stylized factsStylized facts (Kaldor’s) in economic growth has been challenged. In the broadly sense, existing standard macroeconomic models, with implications for the production function, inequality, and macroeconomic dynamics, based on these stylized facts, cannot explain the changes of movement of income inequalities and labor share declining over the past 40 years. Many possible but not exclusive explanations have been presented. This volume focuses on three specific themes, which are structural changeStructural change, artificial intelligenceArtificial Intelligence (AI), andMarket concentration market concentrationConcentration (market), and analyzes the implications of these themes on income inequalities and labor shareLabor share declining.