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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

Industrial Policy From Engels to Eisenhower

Brad DeLong
Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s back in...
Economic History

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

Elizabeth Kennedy
American capitalism was built on racial exploitation, from the enslavement of Black people to institutionalized discrimination and its structural impact on our nation’s economic...
Economic History

Resisting Regulatory Capture in the 1857 Financial Crisis

Benedikt Koehler
The historical origins of financial crises teaches us about changing attitudes toward government intervention into private markets. A lesson frequently taught by twentieth century economists...
Economic History

How Austerity Emerged after World War I to Preserve Capitalism

Clara Mattei
In this excerpt of a new book, The Capital Order, Clara Mattei traces the origins of austerity to the period just after World War...
Economic History

Neoliberalism Beyond the Heartlands

Quinn Slobodian
Much of the historical analysis of neoliberalism, both its ideological roots and its outcomes, has focused on U.S. and Europe, with figures such as...
Economic History

Adam Smith on Self-Betterment and Policy Impacts

Alain Marciano
In this celebration of Adam Smith’s contributions to the field of political economy, Peter J. Boettke and Alain Marciano take a passage from The...
Antitrust and Competition

New Research Shows The Breakup of IG Farben Increased Innovation

Felix Poege
IG Farben used to be the world’s largest chemical company and a major innovator—until it was broken up in one of the largest antitrust...
Economic History

Corporate Sovereigns and the Emergence of State Sovereignty: A Closer Look at the East India Company

Swati Srivastava
A new data collection has made it possible to reveal the self-sovereignty of the English East India Trading Company that produced a company-state and...
Antitrust and Competition

A Posner-Stigler Smoking Gun?

Herbert Hovenkamp
A memo from George Stigler and Richard Posner to the Reagan administration was recently unearthed. To understand the meaning behind the memo, as well...
Economic History

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

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