The Equitable Economy

Corporate Culture in Investment Banking: An Inside Look

A former investment banker examines the culture that incentivizes people in the industry to put their interests before their clients’. Part three in a...

How Rich are the Parents of Your Money Manager, and What Does it Tell You About his Alpha?

In the last few decades, numerous studies in financial literature have been devoted to the question of “alpha”—that is, the ability of money managers...

Market Power and Inequality: How Big Should Antitrust’s Role Be in Reducing Inequality?

Is the rise of wealth inequality in the United States related to a decline in competition? A new paper answers in the affirmative. Is the...

Is More Antitrust the Answer to Rising Wealth Inequality?

University of Michigan professor Daniel Crane: “The story that somehow antitrust law is dead, that it’s been killed, is wrong. It hasn’t. It’s very...

Why Firms’ Shareholders Condone Seemingly “Excessive” Executive Pay Packages, and What it Means For the Economy

If the large mutual funds are out to improve governance, why do they condone, if not encourage, seemingly excessive and performance-insensitive compensation packages? A new...

Keynesian Winner-Lose-All Economics

When calm, reasoned arguments, logical deductions, evidence and the like are not able to block Keynesian utility traps, ridicule might do the job. Professional sports, like...

The Surprising Failure Of Food Labeling

If lawmakers want to improve the dietary choices of Americans, the first thing they need to recognize is that the problem is not information. (Note:...

Who Killed Corporate Reputation?

Regulation and reputation are not independent of each other. Regulation can substitute, crowd out, or even implement the power of reputational concerns. A better understanding...

Uncompromisingly Rajan

Most people in power choose nominees without any outside option, because such people are willing to do anything to be reappointed. Raghuram Rajan is...

ProMarket Interview: Alan Blinder on Over-Regulating Financial Markets

In order to get optimal regulation in the financial world, says Alan Blinder, the former Vice Chair of the Federal Reserve, one should seek...

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