Chicago School

A Fair Amount of Freedom for Everyone: Aaron Director Did Have Ideals

David Henderson of the Hoover Institution defends the legacy of Aaron Director, the most enigmatic among the founders of the so-called "Chicago School." Director, argues...

How Powerful Ideas Can Shape Society: Aaron Director and the Triumph of Nihilism

The rise of giants like Amazon and Facebook proves the long-lasting influence of Director's approach. His intellectual and political legacy is the transition of...

If One Monopoly Is Good for the Firm, Are Two Always Better? Aaron Director and the Tie-in Problem

When IBM patented a punch card processing machine, it had the power to influence both the market of machines and punch cards, but this is...

Aaron Director’s Legacy: The Beginning of Doubt is the Beginning of Wisdom

Aaron Director died 15 years ago. He published almost nothing, but his ideas influenced a generation of economists and intellectuals. Professor Stephen Stigler remembers...

LATEST NEWS

More than Economics, Ideology Determines US Voters’ Preferences for Redistribution

The US stands out among developed economies for its comparatively low level of redistribution as a percentage of GDP. Gustavo de Souza...

Stakeholder Motivations for “Private Sanctions” Against Russia

As the war in Ukraine enters its second year, a new study measures stakeholders’ desire to see their firms exit Russia and...

The Wicked Problem Embodied by The Twitter Files

In response to a recent ProMarket post about the Twitter Files, professor Tom Ginsburg points out that the toughest question lies in...

Study Shows Universal Bank Trades Are Informed by Private Commercial Borrower Information

New research by Rainer Haselmann, Christian Leuz, and Sebastian Schreiber finds evidence suggesting that German banks with commercial lending relationships improve their...

Industrial Policy Is a Seductive Mirage

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...