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Capture

Regulatory Capture

A Former Central Banker Tells Other Central Bankers: “Stay Away From Davos”

Asher Schechter
In an interview with ProMarket, former Bank of England deputy governor Sir Paul Tucker explains why the “unelected power” of central bankers threatens our...
Academic Capture

On Science Advancing One Funeral at a Time

Pierre Azoulay
Do star scientists erect barriers to entry for newcomers in their fields? Pierre Azoulay and Joshua Graff Zivin bring some data to the question...
Regulatory Capture

Livestreaming Polluters to Enforce Environmental Policy: Evidence from a Natural Experiment in Pittsburgh

Nicholas Z. Muller
Enforcing environmental regulations is controversial and can be costly. But researchers at UCLA and Carnegie Mellon have proposed a low-cost alternative for enforcement—disclosing emissions...
Regulatory Capture

Does Direct Democracy Reduce Regulatory Capture?

Samantha Eyler-Driscoll
Does direct democracy make regulatory capture harder for industry? Samantha Eyler-Driscoll looks at a new Stigler Center working paper that examines state-level referenda and...
Regulatory Capture

Why Are So Many Executives Running for Office These Days?

Viktar Fedaseyeu
New research documents a sharp increase in the number of corporate executives in elected federal office between 1980 and 2014. But why do they...
Money in Politics

Can Credit Tightening Spur Social Unrest? Evidence from 1930s China

Alberto Manconi
In 1933 the United States launched its Silver Purchase program, which raised silver prices worldwide, drained China’s silver stock, and caused credit to Chinese...
Regulatory Capture

How Politicians Intensify Financial Cycles: 300 Years of Pro-Cyclical Regulation

Jihad Dagher
Three hundred years of financial regulation offer a cautionary tale to today’s push against yesterday’s regulations. This column revisits the political economy of financial...
Regulatory Capture

Rethinking Stigler’s Theory of Regulation: Regulatory Capture or Deregulatory Capture?

Steven K. Vogel
Much government regulation does not fit the logic of Stigler’s theory of anti-competitive regulatory capture. In a new book, Steven Vogel of Berkeley argues...
Regulatory Capture

The Only Game in Town: Central Banking as False Hope

Paul Tucker
To accompany Paul Tucker’s mini-course at the Stigler Center this week, we offer here an extract of the former Bank of England Deputy Governor’s...
Money in Politics

Return of the State: Banking on Diplomacy

Phong T. H. Ngo
If, as California political legend Jesse M. Unruh once quipped, “money is the mother’s milk of politicians,” it’s reasonable to expect that countries might...
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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.