Regulatory Capture

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...

Fear of Punishment Distorts Bank Financial Reporting

When bank employees are afraid of punishment from regulators, they are likely to conceal information about their faulty decisions. This in turn...

Delaware: The State Where Companies Can Vote

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

Are “Bankruptcy Directors” Bad for Creditors?

A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join...

Why Financial Regulations Might Fail to Produce Their Desired Outcome: The Case of the Capital Conservation Buffer

The capital conservation buffer (CCB) was created after the 2008 financial crisis, instructing banks to retain their dividends in an escrow account and...

Big Tech, the FTC, and Ordoliberals: ProMarket’s Top Stories of 2021

As 2021 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year.

The Best Political Economy Books of 2021

A scholarly examination of market’s power toll on American workers, the collected works of a pioneering economic thinker, an ambitious narrative of...

How Interest Groups Utilize Reverse Revolving Doors to Influence Legislative Voting

A new study finds that legislators who worked for interest groups before taking office influence the voting behavior of their colleagues when...

Unreliable Accounts: How Regulators Fabricate Conceptual Narratives to Diffuse Criticism

In 2010, as the world was reeling from the global financial crisis, the body that determines generally accepted accounting principles for listed...

The Future of Money: The Case for Central Bank Digital Currencies

"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar...

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How Financial Contracting Could Help the Police Force Manage Its Aims More Effectively

Hamid Mehran proposes funded deferred pay, an incentive structure to mitigate the risk and costs of police misconduct.

Event Notes: “China’s Political Economy” in Review

The Stigler Center's "China Political Economy" webinar series returns Thursday, February 9. Here's a reminder of what we covered in our first...

To Build an Equitable Economy, We Must Understand Capitalism’s Racist Heritage

American capitalism was built on racial exploitation, from the enslavement of Black people to institutionalized discrimination and its structural impact on our...

How To Ensure Industrial Policy Promotes Public Over Private Gain

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...

More than Economics, Ideology Determines US Voters’ Preferences for Redistribution

The US stands out among developed economies for its comparatively low level of redistribution as a percentage of GDP. Gustavo de Souza...

Stakeholder Motivations for “Private Sanctions” Against Russia

As the war in Ukraine enters its second year, a new study measures stakeholders’ desire to see their firms exit Russia and...

The Wicked Problem Embodied by The Twitter Files

In response to a recent ProMarket post about the Twitter Files, professor Tom Ginsburg points out that the toughest question lies in...