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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Commentary

Don’t Dismantle America’s Audit Regulator—It’s a Strategic Asset Against China

Karthik Ramanna
Congress is considering eliminating the Public Company Accounting Oversight Board, the independent federal agency that “audits the auditors.” Karthik Ramanna and Nemit Shroff write...
Antitrust and Competition

A Win for Meta Could Open the Television Broadcasting Market to Consolidation

Joseph Price
Joseph Price writes that how the court in the Meta antitrust case determines the relevant product market may have implications for merger activity among television broadcasters, who have similarly argued that the regulators and courts use outdated market definitions to block consolidation.
Antitrust and Competition

We Must Avoid Killer Acquisitions at the Birth of AI

Jonathan Skrmetti
The artificial intelligence market is rapidly developing but antitrust regulators are failing to update their policies, write Tennessee Attorney General and Reporter Jonathan Skrmetti and Kevin Frazier. Regulators’ passiveness risks repeating what happened to social media markets, where a few tech giants were able to acquire nascent competitors and dominate the market. The authors propose three policies to help maintain a competitive AI market.
Antitrust and Competition

The Antitrust Agencies Should Block OpenAI’s Windsurf Acquisition To Support AI Innovation

Ketan Ahuja
Recent government wins against Big Tech demonstrate the prudence of proactively stopping consolidation in the emerging AI startup ecosystem to prevent harm to innovation and consumers. OpenAI’s recent acquisition of Windsurf raises these competition concerns. The antitrust agencies should block it.
Antitrust and Competition

Antitrust Should Be a Tool for Creating Abundance

Diana L. Moss
In the wake of Democrats’ losses in 2024, progressives should focus on how antitrust can support a lower cost of living and increase consumer access to essential goods and services, writes Diana Moss.
Commentary

The Deafening Silence of Big Business in Washington

Wendy Li
Wendy Li writes that business leaders must rediscover past unity and put pressure on politicians to defend against President Donald Trump’s attacks on businesses and civil society and prevent democratic backsliding.
Commentary

OpenAI Abandons Move to For-Profit Status After Backlash. Now What?

Andy Shi
After public backlash, OpenAI has abandoned plans to restructure to remove control by its nonprofit entity. ProMarket reviews the history of OpenAI’s internal tensions to pursue profits over its founding purpose, artificial intelligence for the benefit of humanity, and what questions remain after the firm’s retreat.
Antitrust and Competition

The FTC Is Threatening Free Speech

Aaron Edlin
Aaron Edlin and Carl Shapiro respond to Federal Trade Commission Chair Andrew Ferguson’s keynote speech at the 2025 Stigler Center antitrust and competition conference, in which he lays out his approach to regulating the content moderation policies of the major social media platforms. They explain why Ferguson’s approach threatens the exercise of free speech, is inconsistent with antitrust law, and politicizes the agency.
Antitrust and Competition

Google Ad Tech Delivered an Important Victory for the Government Using a Flawed Tying Rule

Herbert Hovenkamp
Herbert Hovenkamp writes that the court presiding over the Google Ad Tech case gave the government an important win. However, by relying on the per se tying rule instead of rule of reason, the court perpetuated a flawed court precedent that can preclude serious market analysis for competitive harms.
Commentary

Can OpenAI Abandon Its Non-Profit “Purpose”?

Rose Chan Loui
Rose Chan Loui explains the current controversy surrounding OpenAI’s decision to abandon its nonprofit status. To learn more about OpenAI’s proposed restructuring, what it means for the race to develop artificial general intelligence, and how it highlights the tricky legal concept of a nonprofit’s “purpose,” listen to Chan Loui’s recent appearance on Capitalisn’t.
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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.