Margaret Blair

Margaret Blair is an economist who focuses on corporate law and finance. She is a Professor of Law (Emerita) and the Milton R. Underwood Chair in Free Enterprise (Emerita) at Vanderbilt University. Her current research focuses on five areas: team production and the role of corporate boards of directors, the legal concept of "personhood," the historical treatment of corporations by the Supreme Court, the role of private-sector governance arrangements in contract enforcement, and the problem of excessive leverage in financial markets.

Two Years After the Business Roundtable Statement: Pointing in the Right Direction

The 2019 Business Roundtable statement was a welcome break from the position that the nation’s top corporate CEOs took in 1997, when...

Corporations Are Governance Mechanisms, Not Shareholder Toys

Milton Friedman’s shareholder credo is simple and catchy but has shaky foundations. Corporate directors and officers are not agents of shareholders and...

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The “Conspiracy” of Consumer Welfare Theory

Matt Stoller argues there was a conspiracy. It was more of an association with a singular purpose.

Researchers Find Reduced Competition After Pandemic

The chart of the week comes from a new research paper that documents the increase in small business closures during the Covid...

Voters Still Believe Politics is About the Common Good, Not Just Rent-Seeking

Do voters still believe that politics can be a source for common-good policies and not just partisan bickering and rent-seeking? With political...

How to Design Data Protection Laws That Actually Work 

More and more countries are passing data protection laws, yet empirical studies show that these laws rarely deliver on their promises. A...

Are Monopolists or Cartels the True Source of Anticompetitive US Political Power?

Trade associations are often the biggest obstacles to competitive markets, especially when those organizations use their influence to change public policy in...

The Uber Files Reveal The Risk of Private Interests Controlling Our Data

Researchers discovered that the introduction of Uber had negative impacts on transportation, findings that required cooperation with public authorities when Uber refused...

Google’s Anticompetitive Conduct and the Remedies to Prevent It

The Stigler Center, of which ProMarket is a part, recently hosted a panel discussion looking at the antitrust case against Google and...