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The Equitable Economy

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.
Book Excerpts

Conscience Incorporated

Michael Posner
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.
Antitrust and Competition

How Does Venture Capital Shape Biotech Innovation?

Xuelin Li
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.
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.
Commentary

What Is the Furor Behind Delaware SB 21?

Lawrence Cunningham
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.
Antitrust and Competition

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

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

The Promise of Charity-Owned Businesses

Prateek Raj
A future of business may be businesses owned by charities; they have a history of commercial success and social good. The following is an...
Antitrust and Competition

The FTC’s Continued Focus on Labor Will Fail Without a Whole-of-Government Approach

Randy Kim
The Federal Trade Commission under Chair Andrew Ferguson has surprised many by continuing its predecessor’s emphasis on protecting labor markets. Randy Kim writes that while this is a welcome development, it will do little to help workers if President Donald Trump does not also continue his predecessor’s whole-of-government approach. Early indications suggest he will not.
Antitrust and Competition

Why Rising Markups Hurt Innovation and Widen Inequality

Giammario Impullitti
Over the past four decades, the United States has seen rising market power, slowing productivity growth, and deepening wealth inequality. In new research, Giammario...
Democracy

Donald Trump’s Authoritarian Playbook Is Based on Failures of US Corporate Democracy, not Foreign Dictators

Sarah C. Haan
Sarah Haan writes that to understand American authoritarianism, it’s less useful to analyze the strategies of elected dictators around the globe than to look at how corporate leaders in the United States have rigged corporate democracy.
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.