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Media

Effective media scrutiny can help mitigate many of the problems that lead to regulatory capture, by helping the polity to become informed and mobilized. But what are the conditions that create effective media scrutiny? And why do we observe so little of it in reality? “Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants; electric light the most efficient policeman.” Justice Louis D. Brandeis

Antitrust and Competition

Announcing the Participants in the Fall 2021 Stigler Center Journalists in Residence Program

ProMarket writers
This month, the Stigler Center will welcome eight world-class journalists from the United Kingdom, Brazil, China, Romania, Ukraine, Slovenia, and the United...
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Antitrust and Competition

“This Isn’t the Kind of Journalism That Serves Democracy Best”: How Place and Privilege Came to Define American News

Asher Schechter
In an interview with ProMarket, University of Illinois at Urbana-Champaign professor Nikki Usher discusses how news in the US came to be...
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Media

ProMarket Reader Survey: We Want Your Feedback

ProMarket writers
As ProMarket enters its sixth year of operation, we would like to understand what you, our readers, like about it and what...
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Antitrust and Competition

Why Are Google and Facebook Now Okay with Australia’s News Media Bargaining Code?

Derek Wilding
A week of commercial deals and government negotiations has resulted in a series of amendments to the legislation aimed at making Google...
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Media

How Should We Finance Higher Education If Not Through Student Debt? A New Capitalisn’t Episode

Bethany McLean
In a new episode of Capitalisn’t, Luigi Zingales and Bethany McLean take a look at the student debt crisis: How did we...
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Antitrust and Competition

The Best Political Economy Books of 2020

Asher Schechter
A travelogue of monopoly, the dangers of elite impunity, and the relevance of John Maynard Keynes: here are (in no particular order)...
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Media

Bethany McLean’s Weekend Reading List: Nursing Homes, the World’s Largest Pension Fund, and Our Make-Believe Economy

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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Commentary

Bethany McLean’s Weekend Reading List: Wirecard, Women in the Workplace, and Social Safety Nets

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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Media

Bethany McLean’s Weekend Reading List: Joe Biden, Private Equity, and Addictive Social Media

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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Media

Bethany McLean’s Weekend Reading List: The Fed, the Google Antitrust Case, and Covid Bankruptcies

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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Antitrust and Competition

Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation

John Kwoka
The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.
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Economic History

How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism

Cyril Hédoin, Alexandre Chirat
In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.
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Antitrust and Competition

The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect

Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, Anna Toldrà-Simats
In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà-Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.
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Antitrust and Competition

The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses

Joshua Gray, Cristian Santesteban
Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.
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Commentary

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

David Ennis
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.
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Antitrust and Competition

Debating the Draft Merger Guidelines: Transcript

ProMarket writers
On September 7, the Stigler Center hosted a webinar to discuss the draft merger guidelines. What follows is a slightly edited transcript of the event.
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Commentary

Holding Up the News

Joshua Braun
Meta has silenced news organizations’ social media accounts in response to Canada’s Online News Act, a law not yet in effect. Josh Braun describes the reasoning behind such legislation, its potential flaws, and how Meta, particularly Facebook, has turned the Canadian wildfire crisis into a regulatory pressure campaign.
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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.

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