GRAMSCI'S REVOLUTIONS: PASSIVE AND PERMANENT

Technological Revolutions

In skill-biased (de-skilling) technological revolutions learning investments required by new machines are greater (smaller) than those required by preexisting machines. Skill-biased (de-skilling) revolutions trigger reallocations of capital from slow(fast-) to fast(slow-) learning workers, thereby reducing the relative and absolute wages of the former. The model of skill-biased (de-skilling) re...

Autocracy and Revolutions

Existing models of political transitions tend to treat either civil society or the incumbent as a unitary actor. Although useful in specific settings, both these assumptions are unrealistic in most cases and miss important dynamics, especially in cases of revolution. We develop a model of transitions in which two collective action games are nested within a larger political transformation game. ...

Technological Revolutions and Stock Prices

During technological revolutions, stock prices of innovative firms tend to exhibit high volatility and bubble-like patterns, which are often attributed to investor irrationality. We develop a general equilibrium model that rationalizes the observed price patterns. The high volatility results from high uncertainty about the average productivity of a new technology. Investors learn about this pro...

Philosophical Revolutions

Oogenesis: Matrix Revolutions

The mechanism of egg-chamber elongation during Drosophila oogenesis has always been mysterious. A new study shows that the egg chambers spin around their long axis laying down polarised extracellular matrix, which acts as a molecular corset to restrict radial expansion.