Milton Friedman believed that corporations have a social responsibility to play within the rules of the game. But corporations aren’t just players...
Milton Friedman’s shareholder credo is simple and catchy but has shaky foundations. Corporate directors and officers are not agents of shareholders and...
"Bailouts allow investors to keep all the profits in good times without bearing the losses in bad times. Instead, bailouts impose losses on taxpayers, including those...
More and more startups are valued at over $1 billion, even if they have dysfunctional corporate structures and hazardous business models. For tech companies,...
Despite the media hype about corporate CEOs having abandoned their shareholder value maximization credo, the recent statement from the Business Roundtable contains nothing new...
The offshoring activities of multinational firms explain about one-third of the aggregate decline in US manufacturing employment, according to a new study.Â
Between 1990 and...
In an interview with ProMarket, Open University's Peter Bloom talks about his provocative new book CEO Society and why he believes celebrating corporate CEOs...
Some 130 years before Friedman could begin arguing that a corporation’s sole responsibility was to make a profit for its shareholders, Boston’s Charles River...
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.
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.
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.