How do political connections affect firm dynamics, innovation, and creative destruction? We extend a Schumpeterian … how political connections influence an economy's business dynamism and innovation, and generate a number of implications …

innovation. We first establish a positive and significant correlation between various measures of innovativeness and top income … in the top 1% income share between 1975 and 2010. Finally, we show that innovation does not increase broader measures of … inequality which do not focus on top incomes, and that innovation is positively correlated with social mobility, but less so in …