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economic history

Corporate Sovereigns and the Emergence of State Sovereignty: A Closer Look at the East India Company

A new data collection has made it possible to reveal the self-sovereignty of the English East India Trading Company that produced a...
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New Data Shows the Rise of Corporate Concentration in the US in the Past 100 Years

New research observing 100 years of concentration in economic activities and investment in research and development shows that the dominance of large...
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Why Jean Fourastié’s Theory of Economic Development is Still Relevant Today

In 1949, the innovative French economist and policymaker Jean Fourastié introduced a theory of growth and technological development that economists could still...
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The Rise, Survival, and Potential Fall of the Reagan-Era Antitrust Consensus

With major antitrust reform in the air, Brian Cheffins explores how and why a now highly controversial antitrust consensus that emerged under...
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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...
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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...
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What Economists Mean When They Say “Consumer Welfare Standard”

Though coined by academic economists, the term “consumer welfare standard” has been captured and changed by the economic school of thought known...
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How the Free Software and the IP Wars of the 1990s and 2000s Presaged Today’s Toxic, Concentrated Internet

How did the internet evolve from a relatively decentralized, hybrid, and democratizing space toward a concentrated, privatized environment controlled by a handful...
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When Milton Friedman Sided With Keynes Over Hayek on Inflation

In an excerpt from his book Samuelson Friedman: The Battle Over the Free Market, Nicholas Wapshott explores the disagreements between Friedman and...
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How Manufacturing’s Lobby Won and Lost its Political Influence

What happens when supporting capitalism hurts capitalists? Do business lobbies ever control the economy to the extent we think they do? The...
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Antitrust and Competition

Antitrust and Rule by Judges

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The early-1980s Posner-Stigler memorandum to incoming president Reagan’s transition team is interesting for a host of reasons, but most of all in...
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How Would the Big Tech Self-Preferencing Bill Affect Users? 

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The Senate looks to be nearing a vote on the American Innovation and Choice Online Act, which would prohibit gatekeeping digital platforms...
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