Guy Rolnik is a Clinical Professor for Strategic Management at the University of Chicago Booth school of Business. Rolnik is the Founder of Israel’s leading economics newspaper TheMarker and is considered the most Influential economic journalist in Israel in the last 2 decades. Rolnik served for 15 years as Editor-in-Chief of TheMarker and 7 years as the Deputy Publisher of Haaretz daily newspaper - Israel oldest and most important newspaper. Rolnik is the recipient (2013) of the Sokolov (Israeli Pulitzer) life-time-achievement award for excellence in Journalism. He is credited with revolutionizing the Israeli Journalism and media worlds and as bringing dramatic changes to the economic and social discourse in Israel. Rolnik researches and writes about Political Economy, Financial Markets, Antitrust and Regulation. He teaches courses on Regulation, Corporate Reputation and Communication at the Booth school at University of Chicago, in Tel Aviv University and I.D.C in Israel.
In new research, Valentino Larcinese and Alberto Parmigiani find that the 1986 Reagan tax cuts led to greater campaign spending from wealthy individuals, who benefited the most from this policy. The authors argue that a very permissive system of political finance, combined with the erosion of tax progressivity, created the conditions for the mutual reinforcement of economic and political disparities. The result was an inequality spiral hardly compatible with democratic ideals.
Many financial commentators thought that the surge of retail investors participating in the stock market, the most notable of whom boosted “meme stocks” like GameStop, would democratize corporate governance and improve prosocial firm behavior, including the promotion of environmental, social, and governance (ESG) goals. In new research, Dhruv Aggarwal, Albert H. Choi, and Yoon-Ho Alex Lee find evidence that the exact opposite took place.
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.
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.
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.
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.
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