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Chicago Boys

The Chicago Boys and the Chilean Neoliberal Project

In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.
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The Complicated Legacy of the “Chicago Boys” in Chile

How did a group of Chicago-trained economists manage to turn Chile into the cradle of neoliberalism? As the country aims to move...
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Chile Reaches Its Greenspan Moment

"I am in a state of shocked disbelief," former Federal Reserve chair Alan Greenspan said during the 2008 crisis, before confessing: "I found a...
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Antitrust and Competition

The Kroger-Albertsons Merger Threatens Smaller Upstream Suppliers

Richard Volpe
Much of the conversation of the proposed Kroger-Albertsons merger has focused on the risks to consumers. However, the merger also poses serious implications for the grocers’ upstream suppliers, particularly smaller regional firms.
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Regulation

Why Have Uninsured Depositors Become De Facto Insured?

Michael Ohlrogge
Due to a change in how the FDIC resolves failed banks, uninsured deposits have become de facto insured. Not only is this dangerous for risk in the banking system, it is not what Congress intends the FDIC to do, writes Michael Ohlrogge.
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Antitrust and Competition

Merger Law Reaches Acquirer Incentives and Private Equity Strategies

Steven Salop
Steven C. Salop argues that Section 7 of the Clayton Act prohibits mergers in which the acquiring firm’s unilateral incentives and business strategy are likely to lessen market competition.
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Antitrust and Competition

Tim Wu Responds to Letter by Former Agency Chief Economists

Tim Wu
Former special assistant to the president for technology and competition policy Tim Wu responds to the November 27 letter signed by former chief economists at the Federal Trade Commission and Justice Department Antitrust Division calling for a separation of the legal and economic analysis in the draft Merger Guidelines.
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Book Reviews

Can the Public Moderate Social Media?

Surya Gowda
ProMarket student editor Surya Gowda reviews the arguments made by Paul Gowder in his new book, The Networked Leviathan: For Democratic Platforms.
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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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