News

The Big Fail co-author Bethany McLean — also co-host of Stigler Center podcast Capitalisn’t — sits down with ProMarket to discuss how concentration and played a role in the United States government’s response to the Covid-19 pandemic.

Claudia Goldin of Harvard University has been awarded the 2023 Nobel Prize in Economic Sciences. This column, written by two of her former students and now fellow scholars, outlines both the work on gender gaps in employment and wages for which she has been formally recognized, and her contributions to a broader agenda of understanding inequality in the labor market. Her research digs deep into the histories of education, technology and industrialization to uncover the drivers of inequalities in demand, supply, institutions and norms. And while her intellectual influence goes far beyond the study of gender gaps, she has inspired countless women to pursue the study of economics.

Pre-tenure scholars based at institutions outside the United States can now apply for the Stigler Center Affiliate Fellowship. Applications are due January 16.

How prolific is the revolving door issue at the federal level? In a new paper, Joseph Kalmenovitz, Siddharth Vij, and Kairong Xiao analyze the prevalence of revolving door behavior in the United States government and discuss the impacts of limiting private sector job prospects for regulators.

Erin Carroll writes that the lack of public access to the Google search antitrust trial has resulted in unprecedented secrecy which, she writes, could undermine the public’s trust in the outcome and start a dangerous trend amongst other Big Tech companies facing similar trials. 

In new research, Michal Barzuza, Quinn Curtis, and David Webber create a framework explaining why CEOs have powerful incentives to promote ESG, why these incentives are distinct from those of shareholders, why they are powerful despite the lack of governance mechanisms, and why they are at times excessive or skewed.

Robert Margo discusses the influences of his colleague and recent Nobel Prize-winning economist Claudia Goldin, as well as her influence on other scholars.

Nicolas Petit and Lazar Radic refute common critiques of the consumer welfare standard. A second article will discuss the advantages and disadvantages of different antitrust standards, underscoring some points often ignored by the critics of the consumer welfare standard.

Government regulators may reduce corporate fines for criminal behavior if the fines threaten the firm’s survival, thus posing harms to employees and society. In a recent paper, Nathan Atkinson explores the frequency with which government regulators reduce fines and evaluates if these reductions are justified or if regulators are undermining their own capabilities to deter bad behavior and fully compensate harmed parties.

In new research, Manuel Wörsdörfer compares the philosophies of two formative antitrust thinkers writing in the late 19th and early 20th centuries in the United States and Europe: Louis D. Brandeis and Walter Eucken. A discussion of their body of thought highlights the antitrust concerns of the time and how their positions can be adapted to today’s regulatory environment, particularly regarding Big Tech.