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The Role of the State

Antitrust and Competition

American Capitalism Must Reorient Toward the Long Term

David Teece
David J. Teece and Aurelien Portuese argue that short-term thinking in American corporate governance, antitrust, and regulation is hampering American innovation and success even as other countries invest in their firms to dominate frontier markets.
ESG, Corporate Governance & Future of the Firm

Finding the Right Mix of Corporate and Individual Liability To Deter Organizational Misconduct

Jennifer Arlen
In recent research, Jennifer Arlen and Lewis A. Kornhauser develop a new model to understand how countries should approach and balance corporate and individual...
Antitrust and Competition

How Both the Chicago School and Ordoliberalism Softened on Big Businesses

Ryan Stones
In new research, Ryan Stones revisits the alleged disagreement between two influential schools of antitrust on how to handle big businesses. Instead of finding contrasting policy recommendations, he highlights a strikingly similar relaxation of attitudes toward enforcement in the Chicago School and Ordoliberalism in the post-war period.
Antitrust and Competition

How To Enforce the Robinson-Patman Act Under a Raising Rivals’ Cost Approach

Steven Salop
Steven Salop explores the presumptions and evidence that could undergird Commissioner Melissa Holyoak’s preferred “Raising Rivals’ Cost” approach to the enforcement of the Robinson-Patman Act.
Antitrust and Competition

Creating a Robust Economy Requires a Corporate-Governance Policy Response

William Lazonick
William Lazonick writes that recent United States industrial policy initiatives miss the centrality of corporate resource allocation for creating a robust economy, characterized by...
Commentary

America’s Advantage in Clean Production Can Make Manufacturing Great Again

Karthik Ramanna
Karthik Ramanna writes that if the United States adopts a trade policy based on a dynamic emissions accounting method, it can achieve President Donald Trump’s goal of leveling the manufacturing playing field for American companies by penalizing foreign “dirty” producers, while also mitigating inflation and the risk of a trade war.
Antitrust and Competition

Rethinking Merger Analysis

Louis Kaplow
The following is an excerpt from Louis Kaplow’s new book,“Rethinking Merger Analysis,” now out at MIT Press.
Interviews

Nobel Laureate Eugene Fama Predicts Bitcoin Will Become Worthless

ProMarket writers
Nobel Prize-winning economist Eugene Fama argues that Bitcoin is fundamentally flawed and predicts it has a near-certain chance of becoming worthless within a decade....
Economic History

A Nobel Prize for Institutions

Nathan Nunn
The 2024 Nobel Memorial Prize in Economic Sciences was awarded to Daron Acemoglu, Simon Johnson, and James Robinson for “studies of how institutions are...
Antitrust and Competition

Expert Economist Testimonies Are Challenged More Often in Antitrust Cases

Edoardo Peruzzi
In a new working paper, Edoardo Peruzzi shows that under the Daubert standard for admissibility of expert witness, economists face more frequent challenges in antitrust litigation than in other legal domains, like patent or labor law. Additionally, plaintiffs’ experts are more likely to face a Daubert challenge than defendants’ experts.
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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.