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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

The Unintended Economist: How Thorstein Veblen Pivoted From Philosophy to Economics

Charles Camic
In an excerpt from his book Veblen: The Making of an Economist Who Unmade Economics, Charles Camic explores the connection between Thorstein Veblen’s economic...
Economic History

The Invention of Economic Growth: The Forgotten Origins of Gross Domestic Product in American Institutionalist Economics

Onur Özgöde
Contemporary critiques of GDP’s role in policymaking see it as an ideological abstraction, emblematic of neoliberalism, that misrepresents “real” economic conditions. What these critiques...
Economic History

Plagues Upon the Earth: How Wealth Intersects With Mortality

Kyle Harper
Kyle Harper’s new book, Plagues Upon the Earth: Disease and the Course of Human History, shows that the story of disease is entangled with...
Economic History

Buchanan’s Samaritan’s Dilemma

Alain Marciano
The Samaritan’s dilemma is not only about the detrimental effects help can have on the beneficiaries. As James Buchanan explained in his 1975 essay,...
Economic History

Looks Can Be Deceiving: Ronald Coase and the Chicago School

Steven Medema
Ronald Coase is typically thought of as one of the Chicago School’s brightest lights. But Coase’s relationship with Chicago was always an uneasy one,...
Economic History

The Complicated Legacy of the “Chicago Boys” in Chile

Daniel Matamala
How did a group of Chicago-trained economists manage to turn Chile into the cradle of neoliberalism? As the country aims to move away from...
Economic History

Mechanics and Financiers: How Political Economy and Political Ideology Helped Make Detroit the Global Leader of the Automotive Industry

Stefan J. Link
The history of automotive mass production begins with a puzzle: Why did Detroit, of all places, pioneer the industry that would shape the twentieth...
Economic History

“Old Chicago” and Freiburg: Why Ordoliberalism Was No “German Oddity”

Stefan Kolev
Both the Chicago and Freiburg schools faced systemic fragility as the crucial property of societal orders. It was this fragility that served as the...
Antitrust and Competition

A New Antitrust Under Biden? Lessons From the Presidency of Theodore Roosevelt

Richard Baker
The early history of the Sherman Antitrust Act offers relevant insights to contemporary debates on how to best enforce antitrust laws. In fact, the...
Antitrust and Competition

How and Why Baseball’s Legal Monopoly Came to Be

Emile Warot
Baseball’s antitrust exemption, currently the subject of fierce political backlash, has long been a historical curiosity. Why has a professional sports league enjoyed a...
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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.