bailout
Public’s Perception of Large Corporations Has Direct Impact on the Public Support of Corporate Bailouts
A new Stigler Center working paper finds that the likelihood of someone signing an online petition or contacting their US senators to...
Covid-19 Is Reducing Americans’ Confidence Across Institutions
Latest US household survey findings reveal that the Covid-19 crisis caused a sharp reduction in Americans’ confidence in institutions—whether or not they...
What Comes Next for Economic Policies to Combat Covid-19? A Conversation Between Six Booth Faculty
As the Covid-19 crisis evolves from a temporary shock into what seems like a long-term catastrophe, six finance scholars from Chicago Booth—Douglas...
Bethany McLean’s Weekend Reading List: Fracking, Germs, and the Global Financial Crisis
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.
How the Tension Between Big Business and Antitrust Will Reshape Post-Covid America
Big Business is going to be structuring the response to the pandemic, at least temporarily. A new generation of leaders and thinkers...
“Stop Looking for a Post-Covid Intellectual, We Have Found One”: Le Point Profiles Luigi Zingales
Writer and entrepreneur Mathieu Laine wrote an extensive profile of Luigi Zingales for the French magazine Le Point. They discussed the pandemic,...
How to Save 40 percent of the Payroll Protection Program’s Costs
Thanks to the loan program part of the CARES Act, small businesses can receive up to 2.5 times their monthly payroll, regardless of how much...
The Hidden Risks of Stimulus Packages: Federal Debt Is Not a Problem – Until It Is
Most economists agree that some stimulus bill to mitigate the effect of the pandemic was a necessary evil (although they argue about how good the...
Back to Work? The Political Preparation for “Phase 2” of the Pandemic Is a Matter of Trust
According to a special wave of the Booth/Kellogg Financial Trust Index, Americans have bought into social distancing rules. However, most of the respondents are...
The Coronavirus Crisis Has Exposed Private Equity’s Unsustainable Business Model
Private equity portfolio companies are heavily indebted, and they aren’t generating enough cash to service debts. The steady increase in asset values...
LATEST NEWS
Antitrust and Competition
How US Antitrust Enforcement Against Xerox Promoted Innovation by Japanese Competitors
Xerox invented modern copier technology and was so successful that its brand name became a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and eventually ordered the licensing of all its copier-related patents. As new research by Robin Mamrak shows, this antitrust intervention promoted subsequent innovation in the copier industry, but only among Japanese competitors. Nevertheless, their innovations benefited U.S. consumers.
Antitrust and Competition
Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation
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.
Economic History
How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism
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.
Antitrust and Competition
The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect
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.
Antitrust and Competition
The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses
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.
