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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)

Antitrust and Competition

Pluralism in Media Markets Is About Democracy, Not Economics

Maciej Bernatt
Media pluralism is a core democratic value in Europe. Upholding it requires that media concentration is scrutinized beyond its impact on competition in the traditional economic formulation. By addressing the challenges posed by dominant media players and fostering a diverse information ecosystem, Europe aims to uphold media plurality as a democratic value and ensure that citizens can engage in informed decision-making. From this angle, the European approach to protecting media pluralism might offer an interesting comparative  perspective for the United States debate, write Maciej Bernatt and Marta Sznajder.
Commentary

The Real Target of Trump’s Crypto Strategy is the Federal Reserve

Ignazio Angeloni
The United States President has halted plans for a central bank digital currency: a mere show of strength to undermine the Fed’s independence, writes...
Antitrust and Competition

How To Enforce the Robinson-Patman Act Under a Raising Rivals’ Cost Approach

Steven Salop
Steven Salop explores the presumptions and evidence that could undergird Commissioner Melissa Holyoak’s preferred “Raising Rivals’ Cost” approach to the enforcement of the Robinson-Patman Act.
Commentary

America’s Advantage in Clean Production Can Make Manufacturing Great Again

Karthik Ramanna
Karthik Ramanna writes that if the United States adopts a trade policy based on a dynamic emissions accounting method, it can achieve President Donald Trump’s goal of leveling the manufacturing playing field for American companies by penalizing foreign “dirty” producers, while also mitigating inflation and the risk of a trade war.
Antitrust and Competition

Expert Economist Testimonies Are Challenged More Often in Antitrust Cases

Edoardo Peruzzi
In a new working paper, Edoardo Peruzzi shows that under the Daubert standard for admissibility of expert witness, economists face more frequent challenges in antitrust litigation than in other legal domains, like patent or labor law. Additionally, plaintiffs’ experts are more likely to face a Daubert challenge than defendants’ experts.
Commentary

What’s Ahead For The U.K.’s Industrial Policy Under Labour

Diane Coyle
The United Kingdom has struggled to implement long-term industrial policies in recent decades, writes Diane Coyle, a trend the new Labour Party promises to...
Commentary

On This Inauguration Day, Can We Still Agree on What It Means To be American?

Karthik Ramanna
Polarization has sundered American politics and the crucial exchange of ideas and opinions underpinning its democracy. Karthik Ramanna writes that on this inauguration day,...
Big Tech

The TikTok Ban Is a Case Study in American Political Economy 101

Utsav Gandhi
Utsav Gandhi relates recent developments in the American government’s ban on TikTok and shows how the case maps over broader debates about conflicts between...
Antitrust and Competition

Did the Mouse Outfox the Fox? The Fubo Settlement, Disney, and the Death of the Venu Sports-Streaming Venture

Steven Salop
Reviewing the literature pioneered by Richard Gilbert and David Newbery, Steven Salop finds that the recent settlement between sports-streaming services Fubo and the Venu...
Antitrust and Competition

The Trends and Cases That Will Define European Antitrust in 2025

ProMarket writers
Four antitrust and competition experts predict the trends and cases that will define European antitrust in 2025. Enforcement of the Digital Markets Act in 2025 Marco...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.