Book Excerpts

After Neoliberalism

The following is an excerpt from Martin Daunton's new book, "The Economic Government of the World: 1933-2023," out November 14.

Seeing Others

In an excerpt from her new book, Seeing Others, sociologist Michèle Lamont describes the impact of neoliberal ideas on the working class.

Revisiting Milton Friedman

The following is an excerpt from Jennifer Burns' new book "Milton Friedman, The Last Conservative," out November 14.

When a Few Financial Institutions Control Everything

The following is a chapter excerpt from The Problem of Twelve: When a Few Financial Institutions Control Everything, written by John Coates and published today by Columbia Global Reports.

Decrypting Crypto

The following is an excerpt from Data Money: Inside Cryptocurrencies, Their Communities, Markets, and Blockchains by Koray Caliskan, now out at Columbia University Press.

Antitrust for the Platform Economy

Friso Bostoen’s new book, Abuse of Platform Power: Leveraging Conduct in Digital Markets under EU Competition Law and Beyond, outlines how antitrust agencies and policymakers should tackle market power in the platform economy. The following is an adaptation of the book’s introduction.

The Chicago Boys and the Chilean Neoliberal Project

In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.

The Business of Colonialism

In his new book, Empire Incorporated, Philip Stern argues that corporations drove the global expansion of the British Empire rather than provide...

Lowering the Barriers to Entry for Economics Research in Healthcare

A new collection of scholarly work on the economics of the US healthcare sector is released today. The following is an adaptation...

How Financial Experts Convince You That They’re the Experts

In The Spectacle of Expertise: Why Financial Analysts Perform in the Media, Alex Preda explores how financial analysts produce their advice and...

Latest news

The Kroger-Albertsons Merger Threatens Smaller Upstream Suppliers

Much of the conversation of the proposed Kroger-Albertsons merger has focused on the risks to consumers. However, the merger also poses serious implications for the grocers’ upstream suppliers, particularly smaller regional firms.

Why Have Uninsured Depositors Become De Facto Insured?

Due to a change in how the FDIC resolves failed banks, uninsured deposits have become de facto insured. Not only is this dangerous for risk in the banking system, it is not what Congress intends the FDIC to do, writes Michael Ohlrogge.

Merger Law Reaches Acquirer Incentives and Private Equity Strategies

Steven C. Salop argues that Section 7 of the Clayton Act prohibits mergers in which the acquiring firm’s unilateral incentives and business strategy are likely to lessen market competition.

Tim Wu Responds to Letter by Former Agency Chief Economists

Former special assistant to the president for technology and competition policy Tim Wu responds to the November 27 letter signed by former chief economists at the Federal Trade Commission and Justice Department Antitrust Division calling for a separation of the legal and economic analysis in the draft Merger Guidelines.

Can the Public Moderate Social Media?

ProMarket student editor Surya Gowda reviews the arguments made by Paul Gowder in his new book, The Networked Leviathan: For Democratic Platforms.

Uninhibited Campaign Donations Risks Creating Oligarchy

In new research, Valentino Larcinese and Alberto Parmigiani find that the 1986 Reagan tax cuts led to greater campaign spending from wealthy individuals, who benefited the most from this policy. The authors argue that a very permissive system of political finance, combined with the erosion of tax progressivity, created the conditions for the mutual reinforcement of economic and political disparities. The result was an inequality spiral hardly compatible with democratic ideals.

Did the Meme Stock Revolution Actually Change Anything?

Many financial commentators thought that the surge of retail investors participating in the stock market, the most notable of whom boosted “meme stocks” like GameStop, would democratize corporate governance and improve prosocial firm behavior, including the promotion of environmental, social, and governance (ESG) goals. In new research, Dhruv Aggarwal, Albert H. Choi, and Yoon-Ho Alex Lee find evidence that the exact opposite took place.