Capitalism

Chart of the Week: Income Inequality Threatens Capitalism

A new survey of economists by the Initiative on Global Markets indicates that 67 percent agree or strongly agree that the rise...

Corporate Sovereigns and the Emergence of State Sovereignty: A Closer Look at the East India Company

A new data collection has made it possible to reveal the self-sovereignty of the English East India Trading Company that produced a...

Why Aligning Antitrust Policy With Sustainability is a Moral Imperative 

The looming ecological disaster means that it is time for competition researchers, policymakers, lawyers, and economists to devise competition policies that focus...

How China Became a Global Economic Powerhouse Through an Idiosyncratic Approach to Market Capitalism

Chinese reformers after the death of Mao Zedong in 1976 agreed that it was necessary for China to move towards marketization, but...

The Communist Origins of China’s Embrace of Markets

In an excerpt from his book Market Maoists: The Communist Origins of China’s Capitalist Ascent, Jason M. Kelly explores the commercial relationships...

Managers Should Satisfy Only the Ethically Permissible Preferences of Shareholders

Oliver Hart and Luigi Zingales have proposed a revision to the dominant model of the objective of the firm, most famously defended...

Two Years Later, Has the Business Roundtable Statement Transformed Capitalism?

Two years after the Business Roundtable redefined its statement of Purpose of a Corporation to include “a fundamental commitment to all of...

The End of the Capitalist-Worker Dichotomy and the Rise of a New Elite?

Economists typically assume that capitalists and workers are different people. A new study, however, finds that the intersection between the top decile...

The Best Political Economy Books of 2020

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

President-Elect Joe Biden and the Real Lessons of DuPont

Simply talking corporate America into being more responsible is not enough. It may get corporations to talk the talk, but not to...

LATEST NEWS

Should The Competitive Process Test Replace The Consumer Welfare Standard?

Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...

Delaware: The State Where Companies Can Vote

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...