Anat Admati
Anat R. Admati is the George G.C. Parker Professor of Finance and Economics at Stanford University Graduate School of Business (GSB), a Director of the GSB Corporations and Society Initiative, and a senior fellow at Stanford Institute for Economic Policy Research. She is an economist with broad cross-disciplinary interests in the interactions between business, law and policy, and an advocate for better governance and accountability in the private sector and in government. She is also the author of The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It (Princeton University Press, 2013).
ESG, Corporate Governance & Future of the Firm
George Stigler and the Challenge of Democracy
We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance...
News
Milton Friedman and the Need for Justice
Milton Friedman predicated his shareholder value maximization credo on the strong implicit and explicit assumptions that the rules of society protect stakeholders...
Academic Capture
Political Economy, Blind Spots, and a Challenge to Academics
Anat Admati calls on economists and academics to engage with governance and political economy issues, scrutinize models before applying them to the real world,...
Latest news
Antitrust and Competition
The Kroger-Albertsons Merger Will Not Help Grocery Competition
Kroger and Albertsons say they need to merge to compete with Walmart. Claire Kelloway argues that what they really want is Walmart’s monopsony power, and permitting mergers on these grounds will only harm suppliers, workers, and consumers.
Research
Innovators Respond to Their Presidential Candidate Winning With More Innovation
Does an inventor’s political identity influence their productivity? In a new paper, Joseph Engelberg, Runjing Lu, William Mullins, and Richard Townsend examine the impacts of the 2008 and 2016 United States presidential elections on Democrat and Republican inventors, with a particular focus on the quantity and quality of patents after the country elects a new president.
Antitrust and Competition
Letter to the Editor: Former FTC and DOJ Chief Economists Urge Separation of Economic and Legal Analysis in Merger Guidelines
Seventeen former chief economists of the Federal Trade Commission and the Department of Justice Antitrust Division urge current Agency heads to separate the legal and economic analysis in the draft Merger Guidelines to strengthen the role of the latter in merger review.
Antitrust and Competition
Why the Kroger-Albertsons Merger Is a Mess for Consumers
Grocers Kroger and Albertsons want to merge, which would make them the second biggest retail food chain and, according to them, enhance their ability to compete with Walmart and Costco and offer lower prices to consumers. Christine P. Bartholomew writes that the promises of more competition and lower prices for consumers are unlikely to manifest, and thus the Federal Trade Commission should block the deal. Â
Book Excerpts
After Neoliberalism
The following is an excerpt from Martin Daunton's new book, "The Economic Government of the World: 1933-2023," out November 14.
Antitrust and Competition
US Taxpayers Should Not Be Subsidizing Harmful Big Oil Mergers
Chevron and ExxonMobil claim their announced mergers with Hess and Pioneer take advantage of market efficiencies, but a closer look reveals an antiquated tax provision likely sweetening these dangerous deals. Antitrust authorities must carefully review the serious risks entailed in these proposed mergers. In parallel, the United States federal government needs to end large tax-free reorganizations—the most egregious way in which American taxpayers are subsidizing monopolistic practices, writes Niko Lusiani.
Book Excerpts
Seeing Others
In an excerpt from her new book, Seeing Others, sociologist Michèle Lamont describes the impact of neoliberal ideas on the working class.
