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Economic History

The current debate in economics seems to lack a historical perspective. To try to address this deficiency, we decided to launch a Sunday column on ProMarket focusing on the historical dimension of economic ideas.

Economic History

Why Jean Fourastié’s Theory of Economic Development is Still Relevant Today

David Le Bris, Elie Gray
In 1949, the innovative French economist and policymaker Jean Fourastié introduced a theory of growth and technological development that economists could still...
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Antitrust and Competition

The Rise, Survival, and Potential Fall of the Reagan-Era Antitrust Consensus

Brian Cheffins
With major antitrust reform in the air, Brian Cheffins explores how and why a now highly controversial antitrust consensus that emerged under...
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Economic History

How China Became a Global Economic Powerhouse Through an Idiosyncratic Approach to Market Capitalism

Isabella M. Weber
Chinese reformers after the death of Mao Zedong in 1976 agreed that it was necessary for China to move towards marketization, but...
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Economic History

The Communist Origins of China’s Embrace of Markets

Jason M. Kelly
In an excerpt from his book Market Maoists: The Communist Origins of China’s Capitalist Ascent, Jason M. Kelly explores the commercial relationships...
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Antitrust and Competition

How the Free Software and the IP Wars of the 1990s and 2000s Presaged Today’s Toxic, Concentrated Internet

Elettra Bietti
How did the internet evolve from a relatively decentralized, hybrid, and democratizing space toward a concentrated, privatized environment controlled by a handful...
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Economic History

When Milton Friedman Sided With Keynes Over Hayek on Inflation

Nicholas Wapshott
In an excerpt from his book Samuelson Friedman: The Battle Over the Free Market, Nicholas Wapshott explores the disagreements between Friedman and...
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Economic History

How Manufacturing’s Lobby Won and Lost its Political Influence

Jennifer Delton
What happens when supporting capitalism hurts capitalists? Do business lobbies ever control the economy to the extent we think they do? The...
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Antitrust and Competition

The Dawn of Antitrust and the Egalitarian Roots of the Sherman Act

Sanjukta Paul
While it isn’t particularly controversial that concentrated economic power was a legislative target of the Sherman Act, when read as a corollary...
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Economic History

The Varied Ideologies—and Practices—of Socialist Nations in the Developing World

Jeremy Friedman
In an excerpt from his new book Ripe for Revolution: Building Socialism in the Third World, Harvard Business School professor Jeremy Friedman...
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Antitrust and Competition

Why the Mid-20th Century Was Not the Golden Age of Antirust

Brian Cheffins
The New Brandeisian version of American history presumes that there was a mid-20th century golden age of antitrust that was displaced by...
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Development

Mobile Internet Is Changing Employment in Developing Countries, but Not Always as Expected

Pinelopi Koujianou Goldberg, Gaurav Chiplunkar
Scholars and policymakers have put much faith into the prospect of internet connectivity catalyzing development in low- and middle-income countries. In new...
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Fiscal Policy

Biden’s Second-Best Economic Agenda

Walter Frick
Efficiency is out and political economy is in. But what does that imply about making good policy?
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Monetary Policy

The Fed and Bank Failures

Raghuram Rajan, Viral V Acharya
Viral Acharya and Raghuram Rajan explain how quantitative easing contributed to the problems underlying the recent bank failures such as that of...
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Antitrust and Competition

Self-Preferencing Theories Need To Account for Exploitative Abuse

Patrice Bougette, Oliver Budzinski, Frédéric Marty
Patrice Bougette, Oliver Budzinski, and Frédéric Marty argue in their research that antitrust authorities on both sides of the Atlantic must take...
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Antitrust and Competition

Startup Acquisitions Have Undecided Effects on Innovation and Economic Growth

Christian Fons-Rosen, Pau Roldan-Blanco, Tom Schmitz
Startups are a major driver of innovation, but many startups are acquired by large incumbents. Do these acquisitions stifle innovation or promote...
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ESG & Corporate Governance

History Shows that Voluntary ESG Standards Lead to a More Focused ESG Disclosure

Ethan Rouen, Kunal Sachdeva, Aaron Yoon
In recent years, ESG reports have become more common for publicly traded companies. However, critics have found the information they provide to...
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Regulation

Letters that Matter: How Interest Groups Shape Financial Legislation

Renée Adams, Thomas Mosk
Members of Congress are inundated with an avalanche of correspondence on a daily basis. But what persuades them to heed the call?...
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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.

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