Luigi Zingales

Luigi Zingales is the Robert C. Mc Cormack Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago - Booth School of Business. He is a Research Associate of the National Bureau of Economic Research, a Research Fellow of the Center for Economic Policy Research, and a Fellow of the European Corporate Governance Institute. His research interests span from corporate governance to financial development, from political economy to the economic effects of culture. He has published extensively in the major economics and financial journals. In 2003, Zingales received the Bernacer Prize for the best European young financial economist. In 2013 he has been named founding director of the Center for Economic Analysis of the PCAOB. In 2014 he served as President of the American Finance Association. He is co-author with Raghuram G. Rajan of “Saving Capitalism from the Capitalists” (2003) and author of “A Capitalism for the People: Recapturing the Lost Genius of American Prosperity” (2012). His latest book is “Europa o no” (2014).

Destabilizing Digital “Bank Walks”

Bank regulators have always assumed that bank deposits are ‘sticky,’ but the advent of digital banking is changing that. New research focuses...

Bethany and Luigi’s 2022 Book Recommendations

Capitalisn't hosts Luigi Zingales and Bethany McLean offer their recommended books from 2022 for ProMarket readers.

Shareholder Democracy Doesn’t Work. Here’s How It Can.

An opinion piece by Oliver Hart and Luigi Zingales describes how a new voting mechanism could help individual investors persuade companies to...

Antitrust Enforcement, Inflation and Corporate Greed: What do we know?

At a recent Centre for Economic Policy Research (CEPR) event, panelists, including the Stigler Center's own Luigi Zingales, reflected on the roles...

The Mechanisms of Regulatory Capture

To mark the 50-year anniversary of George Stigler’s seminal piece, “The Theory of Economic Regulation” we are publishing a new eBook examining...

A Call for Comments: Have You Been Affected by Academic Gatekeeping?

On Friday, ProMarket published a piece by Renée Adams about the impact of academic gatekeeping in political finance. Do you have a...

The Incoming Currency War

Four powerful forces—cryptocurrencies, the decoupling of geographical and monetary boundaries, ad-based digital platforms’ foray into the world of payments, and the value...

Economic Regulation After George Stigler

George Stigler’s “The Theory of Economic Regulation” has left a lasting impact on the academic and real-world practice of regulatory policy. Fifty...

The Silent Coup

President Donald Trump's seditious actions are exposing the political power that Twitter, Amazon, Google, Apple, and Facebook enjoy. Banning him from their...

How Pfizer’s Vaccine Announcement Demonstrates the Political Power of Firms

By timing the disclosure of the results of its vaccine trial, Pfizer could have influenced the 2020 presidential election. This is worrisome...

Latest news

Algorithmic Collusion in the Housing Market

While the development of artificial intelligence has led to efficient business strategies, such as dynamic pricing, this new technology is vulnerable to collusion and consumer harm when companies share the same software through a central platform. Gabriele Bortolotti highlights the importance of antitrust enforcement in this domain for the second article in our series, using as a case study the RealPage class action lawsuit in the Seattle housing market.

The Future Markets Model Explains Meta/Within: A Reply to Herb Hovenkamp

In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.

The Chicago Boys and the Chilean Neoliberal Project

In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.

Creating a Modern Antitrust Welfare Standard that Integrates Post-Chicago and Neo-Brandeisian Goals

Darren Bush, Mark Glick, and Gabriel A. Lozada argue that the Consumer Welfare Standard  is inconsistent with modern welfare economics and that a modern approach to antitrust could integrate traditional Congressional goals as advocated by the Neo-Brandesians. Such an approach could be the basis for an alliance between the post-Chicago economists and the Neo-Brandesians.

Getting Partisans To Listen to One Another Can Reduce Political Polarization

In new research, Guglielmo Briscese and Michèle Belot find that reminding Americans of shared values can open lines of communication and help reduce political polarization.

The State of The Debate on U.S. Antitrust and Competition

This year’s Stigler Center conference on antitrust and competition invited scholars to propose alternatives to the consumer welfare standard.

The Impact of Algorithms on Competition and Competition Law

Antonio Capobianco, the deputy head of the OECD Competition Division and one of the authors of the 2023 OECD report on algorithmic competition and collusion, explains the risks that algorithms and artificial intelligence pose to competition and how regulators can approach the changing competition paradigm.