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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Commentary

The Price We All Pay When Corporations Dodge Criminal Charges

Ellen Podgor
Corporations can sidestep prosecution by cooperating with the government and offering up employees to avoid their own criminal liability. Ellen S. Podgor discusses two prominent reasons why the current approach to corporate criminality is inefficient.
Antitrust and Competition

What Do the Epic Games’ Lawsuits Against Apple and Google Say About the DOJ’s Apple Case?

Herbert Hovenkamp
Herbert Hovenkamp reviews Epic Games’ lawsuits against Apple and Google for restraining users’ ability to access Epic’s offerings through third-party app stores. A comparison of the two ecosystems sheds light on what remedies would improve benefits to consumers and how the Department of Justice’s own lawsuit against Apple may fare.
Antitrust and Competition

Weaponizing Antitrust and Regulation Will Hurt US Consumers

Diana L. Moss
Diana Moss reviews four recent examples of the Trump administration weaponizing antitrust and regulation to stifle opposing ideological and political viewpoints.
Commentary

The Tradeoffs of Transparency in Sovereign Debt Markets

Mark Weidemaier
It is an economic truism that markets operate more efficiently and fairly when there is more transparency. However, in the case of sovereign debt markets, the virtues of transparency are partially offset by its costs, writes Mark Weidemaier. Without an international regulator or bankruptcy court, opacity sometimes advances the public interest, including by helping financially distressed governments protect assets.
Commentary

It’s Time To Take Free Speech Back Into Our Hands

Alexandra Geese
Member of the European Parliament Alexandra Geese writes that illiberal politicians and Big Tech social media platforms have abused the principle of freedom of speech to suppress ideas with which they do not agree and promote hate speech. She provides three recommendations for retaking speech from the social media platforms that constitute today’s public sphere.
Commentary

How Abundance Echoes the DOGE Narrative

Dylan Gyauch-Lewis
The abundance movement, which seeks to lift the burden of inefficient regulation off the private sector to unleash equitable growth, has become the policy platform for many liberals. Dylan Gyauch-Lewis argues that the movement fails to account for the costs of externalities that many of the regulations it derides seek to address.
Commentary

Dismantling Transnational Anti-Corruption Framework Is Dangerous and Costly

Gary Kalman
Gary Kalman writes that actions under the second Trump administration to dismantle recent anti-corruption initiatives, including those pioneered during the first Trump administration, will cost dearly the American and global economy and enable many of the nefarious actors President Trump has publicly admonished.
Commentary

Is Cryptocurrency a Racket?

Jed S. Rakoff
Judge Jed S. Rakoff of the United States District Court for the Southern District of New York reflects on the history of cryptocurrency and his experience adjudicating criminal cases involving it.
Antitrust and Competition

Google Search’s Exclusivity Payments Must Be Capped

Fiona Scott Morton
Judge Amit Mehta will shortly provide his remedy to Google’s monopoly in internet search. Fiona Scott Morton and Paul Heidhues argue that the remedy must include a cap on Google’s payments to the mobile phone manufacturers, carriers, and web browsers that propelled its monopoly. Because any outright ban risks harming Google’s current partners in the short term, Judge Mehta should consider pursuing a flexible ban that instead limits the revenue these partners can receive from Google in order to encourage market entry and competition.
Antitrust and Competition

European Labor Antitrust Has Reached a Defining Moment. How Far Will It Go?

Jan Broulík
Jan Broulík writes that the interest and willingness of European competition authorities and courts to intervene in markets to protect labor has made critical strides over the last few months. However, it still has a ways to go to even catch up with its American counterpart.
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.