The Knowledge Economy at the Turn of the Twentieth Century: The Emergence of Hierarchies
用简化模型分析二十世纪初通信技术进步对工资和组织的影响，解释高技能者如何通过雇佣低技能者形成团队，改变收入分布。
We use a simplified version of Garicano and Rossi-Hansberg (2005) to understand the impact of improvements in communications technology at the turn of the twentieth century on wages and organization. Improvements in communication technology allow individuals of different skills to abandon self-employment and form teams with each other. In particular, they allow high-skill agents to leverage their knowledge by specializing in the hardest tasks and hiring low-skill agents to do the routine tasks. Organization then exploits the complementarities between individual skills, which in turn affects the distribution of earnings.