Capitalism
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 struggled over...
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 and selective...
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 by Milton...
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 our stakeholders”...
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 of capital-income...
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) some of...
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 walk the...
Institution Man: How Corporations Came to Dominate the US Economy
In the first chapter of his book Transaction Man, Nicholas Lemann explores how Adolf Berle, author of The Modern Corporation and Private Property and...
Capitalisn’t Is Back: Can Economists and Journalists Work Together to Improve Capitalism?
Is capitalism the engine of prosperity, or is it the engine of destruction? On this podcast, we talk about the ways capitalism is—or more...
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 since 2009...
