type here...

Friedman 50 Years Later

Capitalisn't

eBook: Milton Friedman 50 Years Later, a Reevaluation

ProMarket writers
Over the past couple of months, ProMarket has hosted a lively debate on whether Milton Friedman was right or wrong when he...
Read more
Commentary

Friedman’s Legacy: From Doctrine to Theorem

Luigi Zingales
Friedman was more right than his detractors claim and more wrong than his supporters would like us to believe. However, after 50...
Read more
Friedman 50 Years Later

The Purpose of Business is to Solve Problems of Society, Not to Cause Them

Colin Mayer, Leo E. Strine, Jr, Jaap Winter
Claims that a stakeholder-focused system of corporate governance cannot succeed in the US are perverse because they take as given that corporations...
Read more
Friedman 50 Years Later

Can Institutional Investors Solve Societal Issues When Governments Fail to Do So?

Eyub Yegen
A new study looks into the social costs associated with private prisons to show that privatization may come with social trade-offs when...
Read more
Friedman 50 Years Later

Bringing Ethics Back to Friedman’s Call to Purpose for the Next 50 Years

J.S. Nelson
Fifty years ago, Friedman compellingly presented his argument for shareholder primacy. But as currently implemented, shareholder primacy threatens the unifying purposes that...
Read more
Friedman 50 Years Later

Milton Friedman and the Need for Justice

Anat Admati
Milton Friedman predicated his shareholder value maximization credo on the strong implicit and explicit assumptions that the rules of society protect stakeholders...
Read more
Friedman 50 Years Later

There Is a Direct Line from Milton Friedman to Donald Trump’s Assault on Democracy

Martin Wolf
Milton Friedman believed that corporations have a social responsibility to play within the rules of the game. But corporations aren’t just players...
Read more
Friedman 50 Years Later

Strength in Numbers: Using Data to Track Diversity and Inclusion

Marianne Bertrand, Caroline Grossman, Mekala Krishnan
Recent protests against racism and police brutality, along with the #MeToo movement, have increased pressure on businesses to measure and improve their...
Read more
Friedman 50 Years Later

Shareholder Value and Social Responsibility Are Not At Odds

Mary K. Bush
Being socially responsible can, and frequently does, make good business sense. There are plenty of opportunities for companies to do well by...
Read more
Friedman 50 Years Later

A Challenge for Stakeholder Capitalism: Solving the Paradoxes of Voting

John G. Matsusaka
If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.
Read more
123Page 1 of 3

Latest news

News

Fear of Punishment Distorts Bank Financial Reporting

Hamid Mehran
When bank employees are afraid of punishment from regulators, they are likely to conceal information about their faulty decisions. This in turn...
Read more
Antitrust and Competition

Should The Competitive Process Test Replace The Consumer Welfare Standard?

Einer Elhauge
Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...
Read more
News

Delaware: The State Where Companies Can Vote

Hal Weitzman
Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...
Read more
Antitrust and Competition

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Ted Tatos
Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...
Read more
Corporate Governance

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

Lucian Bebchuk, Roberto Tallarita
In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...
Read more
Inequality

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

Belinda Archibong
New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...
Read more
Antitrust and Competition

Mergers and Smoking Guns

Erik Peinert
A recently uncovered memo from George Stigler and Richard Posner reveals how they thought about antitrust and merger policy in advising the...
Read more
View All

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.

About Us

Categories

What we are readingAntitrust and CompetitionNewsRegulatory CaptureMediaRent seeking