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Uncategorized

Low Wages are Less Common Today and No More Persistent

Simcha Barkai, David Abraham
Researchers find that a smaller fraction of workers today earn low wages than at any point since the early 1980s.
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Democratize Work

Isabelle Ferreras, Julie Battilana, Dominique Méda
An excerpt from a new book, Democratize Work: The Case for Reorganizing the Economy, advocates democratizing firms and decommodifying work.
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Antitrust and Competition

Antitrust Enforcement, Inflation and Corporate Greed: What do we know?

Tommaso Valletti, Luigi Zingales, José Azar, Thomas Philippon, Jan Eeckhout, Basile Grassi, Cristina Caffarra
At a recent Centre for Economic Policy Research (CEPR) event, panelists, including the Stigler Center's own Luigi Zingales, reflected on the roles...
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Antitrust and Competition

How Does Party-State Capitalism In China Interact With Global Capitalism?

Margaret M. Pearson, Meg Rithmire, Kellee S. Tsai
Excerpted from The China Questions 2: Critical Insights Into Us-China Relations, edited by Maria Adele Carrai, Jennifer Rudolph, and Michael Szonyi, published...
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ESG & Corporate Governance

Will “Portfolio Primacy” Throw a Monkey Wrench in Elon Musk’s Plans to Acquire Twitter?

Bernard Sharfman
The SEC's definition of fiduciary duty allows institutional shareholders to vote against Elon Musk's Twitter takeover bid thanks to portfolio primacy.
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Serving Shareholders Doesn’t Mean Putting Profit Above All Else

Oliver Hart, Luigi Zingales
The time has come for companies, economists, and society to abandon the argument that the only responsibility of business is to maximize profits. Editor’s note:...
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“Thank You and Farewell”: Francesco Trebbi on Alberto Alesina’s Intellectual Legacy

Francesco Trebbi
There are two main intellectual precursors of modern political economy in 20th Century: Social Choice and Public Choice. In founding modern political...
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Uncategorized

How Alberto Alesina Challenged the Median Voter Theorem

Howard Rosenthal
"Alberto Alesina's insight was that the economy was driven neither by the opportunistic behavior of politicians nor by the pursuit of partisan...
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Not Everyone Agreed With Alberto Alesina, but Nobody Could Ignore the Work He Did

Jeffry Frieden
Harvard professor Jeffry Fridel was a friend and a colleague of Alberto Alesina. They shared the beginning of their careers, a house...
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“There Are Few Things More Exciting Than Learning Something New and Important About Humanity”: Alesina’s Scientific Odyssey

Edward Glaeser
"It is a rare scholar who does research in his 60s that is as exciting as the research that he did in...
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Development

Mobile Internet Is Changing Employment in Developing Countries, but Not Always as Expected

Pinelopi Koujianou Goldberg, Gaurav Chiplunkar
Scholars and policymakers have put much faith into the prospect of internet connectivity catalyzing development in low- and middle-income countries. In new...
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Fiscal Policy

Biden’s Second-Best Economic Agenda

Walter Frick
Efficiency is out and political economy is in. But what does that imply about making good policy?
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Monetary Policy

The Fed and Bank Failures

Raghuram Rajan, Viral V Acharya
Viral Acharya and Raghuram Rajan explain how quantitative easing contributed to the problems underlying the recent bank failures such as that of...
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Antitrust and Competition

Self-Preferencing Theories Need To Account for Exploitative Abuse

Patrice Bougette, Oliver Budzinski, Frédéric Marty
Patrice Bougette, Oliver Budzinski, and Frédéric Marty argue in their research that antitrust authorities on both sides of the Atlantic must take...
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Antitrust and Competition

Startup Acquisitions Have Undecided Effects on Innovation and Economic Growth

Christian Fons-Rosen, Pau Roldan-Blanco, Tom Schmitz
Startups are a major driver of innovation, but many startups are acquired by large incumbents. Do these acquisitions stifle innovation or promote...
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ESG & Corporate Governance

History Shows that Voluntary ESG Standards Lead to a More Focused ESG Disclosure

Ethan Rouen, Kunal Sachdeva, Aaron Yoon
In recent years, ESG reports have become more common for publicly traded companies. However, critics have found the information they provide to...
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Regulation

Letters that Matter: How Interest Groups Shape Financial Legislation

Renée Adams, Thomas Mosk
Members of Congress are inundated with an avalanche of correspondence on a daily basis. But what persuades them to heed the call?...
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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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