This paper presents statistical evidence on (1) the importance of 'soft' capital spending items like marketing and R&D investments, and (2) the dominant service content of production in the modern manufacturing firm. It pictures the firm as a dominantly information processing entity that has...

I study a model where Information Technology, while typically increasing overall inequality, is likely to harm some people at intermediate and high levels of the distribution of income but to benefit people at the bottom. Within a given occupation it may harm some workers while benefitting...