Books

How Societies and Families Perpetuate Gender Wealth Inequalities

In "The Gender of Capital: How Families Perpetuate Wealth Inequality," sociologists Céline Bessière and Sibylle Gollac show how ostensibly egalitarian property...

The Road to Hayek: A Comprehensive History of Neoliberalism’s Forefather

In their first of two volumes, historians of economics Bruce Caldwell and Hansjoerg Klausinger access new archival material to explore the first...

When Rhetoric Confronts Economic Reality: Unsupported Efficiency Claims and Unenforceable Promises Cannot Save the Book Publishers Deal

In trying to get their merger approved, Penguin and Simon & Schuster claimed massive, but unverified cost savings. They also have promised...

The Best Political Economy Books of 2021

A scholarly examination of market’s power toll on American workers, the collected works of a pioneering economic thinker, an ambitious narrative of...

What Accounts for the Gender Equality Among Pharmacists?

In her new book Career and Family: Women’s Century-Long Journey toward Equity, Harvard Professor Claudia Goldin traces how generations of women have...

Challenges to Sound Global Governance for Health

In an excerpt from his new book, Global Health Security: A Blueprint for the Future, Lawrence O. Gostin examines the challenges and...

The Profit Paradox: A New Approach to Competition and Market Power

Jan Eeckhout’s recent book The Profit Paradox is a serious attempt to explain rising market power and its implications to a wider...

Unsettled: What is the Economic Impact of Climate Change?

In his book Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters, Steven Koonin explores misconceptions and shortcomings in...

The Aristocracy of Talent: Business Intelligence

In the following excerpt from his new book, The Aristocracy of Talent: How Meritocracy Made the Modern World, Adrian Wooldridge traces "how universities...

How a Wave of Corporate Takeovers Ushered In the Gospel of Shareholder Value

In an excerpt from his new book, Ages of American Capitalism, economic historian Jonathan Levy explains how "financiers blew up the postwar...

LATEST NEWS

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.

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.

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.

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.

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.