Late last year, the Department of Justice and the Federal Trade Commission (along with dozens of states attorneys general) filed landmark antitrust cases against Google and Facebook for anticompetitive tactics. Will these lawsuits succeed? What are the potential consequences? Catch up on ProMarket's coverage of the ongoing antirust cases against Big Tech.

Americans spend significantly more on health care than any other country. Why? Answers to this question range from hospital monopolies to perverse incentives to opaque pricing to medical licensing to pharmaceutical firms abusing IP practices to “creeping consolidation.” Why is the US health care system so broken? And what can antirust do about it? Catch-up on our coverage of antitrust and the US health care system.

We Need Better Research on the Relationship Between Market Power and Productivity in the Hospital Industry

Antitrust debates have largely ignored questions about the relationship between market power and productivity, and scholars have provided little guidance on the issue due to data limitations. However, data is plentiful on the hospital industry for both market power and operating costs and productivity, and researchers need to take advantage, writes David Ennis.

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...

Rethinking How To Achieve Universal Health Care Coverage in the US

Solutions to expanding heath care coverage in the U.S. are often incremental and focus on mitigating market failures. In new research, Katherine...

Antitrust Enforcement Is Not Enough to Address Anticompetitive Conduct in Pharmaceutical Markets. Market-Oriented Legal Reform is Needed.

Federal antitrust enforcement has been robust and effective in promoting prescription drug market competition and thereby enhancing consumer welfare. Antitrust enforcement in...

George J. Stigler, one of the most influential economists of the 20th century, won the Nobel Prize in Economic Sciences in 1982 “for his seminal studies of industrial structures, functioning of markets, and causes and effects of public regulation.” His research upended the idea that government regulation was effective at correcting private-market failures. Stigler introduced the idea of regulatory capture, in which regulators could be dominated by special interests. These regulators would work for the benefit of large, monied organizations rather than the public good. Catch up on ProMarket's coverage of his legacy.

As tech companies such as Facebook, Amazon, Google, Apple, and Twitter grew so did their influence over the US economy and politics. Are these companies too large to regulate? Should we break them up? Where do we go from here? Catch up on ProMarket‘s coverage on the political power of Big Tech.

In November 2020, Joe Biden was elected to be the 46th President of the United States. What will his presidency look like? What issues will his administration tackle? Catch up on ProMarket's coverage of the Biden presidency.

Section 230 of the Communication Decency Act, which was enacted in 1996 before Google, Facebook and Twitter were founded, is often referred to as the 26-words that created the internet. It reads: “No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.” Recently, it has come under scrutiny from President Donald Trump, the FCC, the US Congress, and even President-elect Joe Biden, who previously said it should be revoked “immediately”. Catch up on ProMarket’s coverage of what’s next for Section 230.

In the aftermath of the brutal murder of George Floyd at the hands of white police officers in Minneapolis and the ensuing global outrage, an unprecedented focus on the causes of police violence and misconduct has emerged. Should the police be “defunded,” as many protesters demand, or should US law enforcement reformed in other ways? ProMarket investigates.

How Financial Contracting Could Help the Police Force Manage Its Aims More Effectively

Hamid Mehran proposes funded deferred pay, an incentive structure to mitigate the risk and costs of police misconduct.

“Drive and Wave”: In Response to 1998 Police Reform, LAPD Officers Disengaged from Policing

A new paper documents how LAPD officers responded to two police reforms—one in 1998 and one in late 2002. It finds that...

Police Stops of Black Drivers Increase Following Trump Rallies, New Study Suggests 

A new study looks into how Trump's 2016 presidential campaign affected police behavior toward Black Americans and finds that the probability that...

Prison Labor Can Create Perverse Incentives for Incarceration and Reduce Trust in Legal Institutions

Government proponents of prison labor should be mindful of the potential for negative effects, including increased incarceration rates and citizens’ deteriorating views...

What will be the impact of Covid-19 on the US and global economies? While it’s too early to make reliable predictions, it is clear that the crisis, which caused the bigger global recession on record and placed more than one-third of the world’s population on lockdown, will reshape every aspect of society. Catch up on ProMarket’s coverage of the coronavirus and its impact on politics and the world's economies.

Alesina was born in Broni, Pavia, Italy. Alesina obtained his undergraduate degree in economics from Bocconi University. From 2003–2006, Alesina served as Chairman of the Department of Economics at Harvard. He was the Nathaniel Ropes Professor of Political Economy at Harvard. He visited several institutions including Massachusetts Institute of Technology (MIT), Tel Aviv University, University of Stockholm, The World Bank, and the International Monetary Fund (IMF). In 2006, Alesina participated in the Stock Exchange of Visions project.

Aaron Director, one of the founders of the so-called Chicago School of Law and Economics, died on September 11, 2004. To mark the 15th anniversary of his death, ProMarket is published a series of articles on his work and intellectual legacy.

Starting in 2004, a small number of intercontinental carriers recaptured control of industry oversight in Washington and Brussels, reversed thirty years of successful pro-consumer and pro-competitive aviation policies, and converted the world’s most important markets from robust competition to a permanent oligopoly/cartel of Too Big To Fail airlines. That consolidation movement undermined many of the mechanisms that had allowed the industry to restructure after past crises, and it is difficult to see how those mechanisms could rapidly be restored in order to help cope with today’s Coronavirus much larger crisis.