The Equitable Economy

Does Private Equity Harm Competition in the Hospital Industry?

Brent Fulton discusses private equity’s investments in hospitals and assesses the risks it presents to key stakeholders: private equity investors, debt investors, patients, and the government. He argues financial transparency regulation is needed so fraudulent transfer and bankruptcy laws can be enforced to reduce uncompensated risk being borne by patients and the government (ultimately taxpayers).

Do Private Equity and Other Investors Harm Competition in the Pharmaceutical Industry?

Melissa Newham reviews how investors can alter the incentives and behavior of pharmaceutical companies to reduce competition and consumer welfare through common ownership and “rollup” deals.

The Curious Case of Private Equity in Health Care’s Market Failures

Over the last year, the United States government has demonstrated increased concern about private equity’s involvement in health care. Barak Richman and Richard Scheffler...

The Historically Diverse Goals of European Competition Recommend a New Emphasis on Democracy

Marios Constantine Iacovides discusses his and Konstantinos Stylianou’s empirical investigations into how the goals of competition policy have evolved over time. They find that a multitude of goals have always been present in judicial and regulatory decisions, but the emphasis on certain goals has vacillated in response to the concerns of the time. Contemporary concerns about the health of democracy suggest a revival of ordoliberalism and protection of the competitive process.

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

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.

Conscience Incorporated

The following is an excerpt from Michael Posner’s recent book, Conscience Incorporated: Pursue Profits While Protecting Human Rights, reprinted here with permission from NYU Press.

How Does Venture Capital Shape Biotech Innovation?

In new research, Xuelin Li, Sijie Wang, Jiajie Xu, and Xiang Zheng find that the involvement of specialized venture capital firms influences a biotech startup’s drug portfolio by focusing research and development on fewer products.

Can OpenAI Abandon Its Non-Profit “Purpose”?

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.

What Is the Furor Behind Delaware SB 21?

Lawrence A. Cunningham reviews the arguments over Delaware’s recently signed Senate Bill 21, which changes corporate governance law in the state in favor of corporate management, and discusses what developments may come next.

Now Is the Time To Correct Residency Match and (Especially) Other Competition Issues in the Physician Market

Barak Richman writes that the recently announced investigation of the House Judiciary subcommittee for antitrust into the residency match antitrust exemption presents an opportunity...

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