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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 Most Famous Article on the Theory of the Firm is Widely Misunderstood

Brian Cheffins
Michael Jensen and William Meckling’s famous 1976 Journal of Financial Economics article has been cited nearly 100,000 times and is often regarded as a...
Antitrust and Competition

“Power Is Evil in Itself”: The Ordoliberal Quest for a Privilege-Free Order

Stefan Kolev
The lesson from the quest of German ordoliberals for a privilege-free order from the 1930s to the 1950s is that once in motion, the...
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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.