Democracy

How the Start-Up Nation Could Fail

Lucian Bebchuk and Oliver Hart explain why Israel’s proposed legal transformation would undermine not only its democracy but also its economy.

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...

What Saved American Democracy from Donald Trump?

Despite President Donald Trump's attempts to undermine it, the American democracy seems to have survived. We now need to analyze more closely...

Here Is What American History Can Teach Us About the Interplay Between Free Speech and Democracy

The United States has a long and unfortunate history of overreacting in moments of perceived crisis. Time and again, we have suppressed...

Jimmy Lai: “Hong Kong Will Eventually Be Like China, Plagued by Corruption”

In an interview with ProMarket, Hong Kong media tycoon and pro-democracy activist Jimmy Lai discussed his legal troubles, the roots of his...

Liberal Democracies Have a Duty to Respond to China’s New National Security Law

According to China’s sweeping new national security law, European citizens who argue in favor of self-determination for Hong Kong in their home...

Hong Kong’s Crisis and the Turn Toward Extraterritorial Law

China's new National Security Law, as well as its increasing reliance on law as a mode of repression, reflect important shifts in...

How to Get Police Reform Done? Use Direct Democracy

Instead of just imploring their representatives to fix things, Americans can use the tools of direct democracy to take charge and promote...

Are We Witnessing the Fall of the American Liberal Order?

In the past 30 years, liberalism has not lived up to its promise to deliver economic returns for the broad majority of...

Piketty on the Covid-19 Crisis: “It Is High Time to Use This Opportunity to Counter the Dominant Ideology and Significantly Reduce Inequality”

In an interview with ProMarket, Thomas Piketty speaks about his new book, the role of ideology as a driver of inequality, and...

LATEST NEWS

Algorithmic Collusion in the Housing Market

While the development of artificial intelligence has led to efficient business strategies, such as dynamic pricing, this new technology is vulnerable to collusion and consumer harm when companies share the same software through a central platform. Gabriele Bortolotti highlights the importance of antitrust enforcement in this domain for the second article in our series, using as a case study the RealPage class action lawsuit in the Seattle housing market.

The Future Markets Model Explains Meta/Within: A Reply to Herb Hovenkamp

In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.

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.

Creating a Modern Antitrust Welfare Standard that Integrates Post-Chicago and Neo-Brandeisian Goals

Darren Bush, Mark Glick, and Gabriel A. Lozada argue that the Consumer Welfare Standard  is inconsistent with modern welfare economics and that a modern approach to antitrust could integrate traditional Congressional goals as advocated by the Neo-Brandesians. Such an approach could be the basis for an alliance between the post-Chicago economists and the Neo-Brandesians.

Getting Partisans To Listen to One Another Can Reduce Political Polarization

In new research, Guglielmo Briscese and Michèle Belot find that reminding Americans of shared values can open lines of communication and help reduce political polarization.