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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

An Unusual History: A Conversation Between Two Economists About the Economics Department at the University of Chicago

Sebastian Edwards
In conversation with Sebastian Edwards, Arnold C. Harberger reflects on his time at the Department of Economics at the University of Chicago. Editor’s note: The...
Antitrust and Competition

George Stigler’s Paper on Regulation and the Rise of Political Economy

Andrei Shleifer
George Stigler’s “The Theory of Economic Regulation” is not just the founding paper of economics of regulation. It is also a founding paper of...
Antitrust and Competition

Of Antitrust and Patents: the Quiet Return of the Status Quo at the DOJ’s Antitrust Division

Allen Grunes
Without Senate-confirmed political leadership, the Department of Justice quietly reverts to an Obama-era policy that favors Big Tech. The consistent theme running through Makan Delrahim’s...
Antitrust and Competition

The Real Dish on the T-Mobile/Sprint Merger: A Disastrous Deal From the Start

Melody Wang
The Trump-era DOJ’s decision to allow the T-Mobile/Sprint merger will go down as one of the worst merger-enforcement mistakes in decades. This merger will...
Antitrust and Competition

Why Big Tech Companies Should Engage With Academia, and Why They Don’t

Tommaso Valletti
“Academic engagement” of a Big Tech firm: that job should exist. But it has not happened, and it probably won’t happen, unless we get...
Antitrust and Competition

Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards

Rena Conti
Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but they are...
Antitrust and Competition

Senator Klobuchar’s Antitrust Bill Doesn’t Go Far Enough

Eric A. Posner
Senator Klobuchar’s bill includes many useful proposals to bolster antitrust enforcement, but the antitrust laws have been so weakened by the courts and by...
Commentary

Why We Need to Stop Relying On Patents to Measure Innovation

Gary N. Smith
Patent databases may be a smoke screen that hides the true issues, problems, and dynamics of innovation behind the illusion that innovation is booming—and...
Antitrust and Competition

The Irony in Senator Klobuchar’s Antitrust Bill

Thomas A. Lambert
The antitrust reform bill recently proposed by Senator Amy Klobuchar (D-MN) purports to fix problems caused by antitrust courts’ reliance on “inaccurate economic assumptions.”...
Antitrust and Competition

Morale At the DOJ’s Antitrust Division Has Plummeted. Here’s How to Fix It

John Newman
The Biden administration should work to reverse the declining morale since a re-energized Antitrust Division will translate into more effective, innovative enforcement efforts.   The...
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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.