Market Capture

Money in Politics

While the conventional debate usually revolves around the amount of campaign donations each candidate receives (how much), we spotlight also issues such as the concentration of donations (who donates), or more stealth forms of money in politics such as lobbying.

Regulatory Capture

When regulation protects narrow interests – usually the interests of the incumbent industry – at the expense of the public interest. Capture occurs in various ways: from straightforward bribes and threats, to more implicit quid pro quos such as the lucrative future employment (revolving door), to softer forms of cognitive/cultural capture. “... as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit.” George Stigler - The Theory of Economic Regulation (1971)

Letters that Matter: How Interest Groups Shape Financial Legislation

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

Investing in Influence: Investors, Portfolio Firms, and Political Giving

A new paper examines the relationship between the rising concentration in institutional investors' ownership of publicly traded U.S. firms and portfolio companies'...

Industrial Policy Is a Seductive Mirage

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...

Survey Highlights Backlash to Increasingly Political Corporate America

A recent poll shows that 71% of Americans view large companies negatively. The change has been driven by Republicans who dislike the...

Event Notes: Academic Bias Under the Microscope

That scholarship often reflects conscious and unconscious biases has long been an open secret in academia. On April 22, Professors Christian Leuz,...

Corporations Are Not “We the People”

The Citizens United ruling contradicts the Founders, decades of Supreme Court precedent and the will of the American people.

What Citizens United Did Not Predict and Why It’s Time To Reconsider

Citizens United v. FEC stands in the public eye as the U.S. Supreme Court case that flooded U.S. elections with “dark money”...

Companies’ Diversity Commitments Conflict with Political Donations

Many US businesses that promote their workplaces as supportive of traditionally marginalized groups have created diversity, equity and inclusion (DEI) programs for...

“Uber Has Higher Prices and Worse Service Than the Taxi Industry Had Ten Years Ago”

Following the Uber Files leaks, transportation expert Hubert Horan explains why Uber is “hopelessly uneconomic” and how its engagement with policymakers and...

Relationships With Academics at the Center of the Uber Files Revelations 

The Guardian’s exposé on Uber’s strategy of engaging with top academic researchers to produce corporate-friendly research calls to mind concerns regarding academic...

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

Scholars and policymakers have put much faith into the prospect of internet connectivity catalyzing development in low- and middle-income countries. In new...

Biden’s Second-Best Economic Agenda

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

The Fed and Bank Failures

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

Self-Preferencing Theories Need To Account for Exploitative Abuse

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

Startup Acquisitions Have Undecided Effects on Innovation and Economic Growth

Startups are a major driver of innovation, but many startups are acquired by large incumbents. Do these acquisitions stifle innovation or promote...

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

In recent years, ESG reports have become more common for publicly traded companies. However, critics have found the information they provide to...

Letters that Matter: How Interest Groups Shape Financial Legislation

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