Economics

Fighting Poverty With Field Experiments: the Nobel Laureates' Revolution

As a student, Harvard Business School professor Vincent Pons decided to become an economist after a project in Morocco with Esther Duflo. The co-recipient...

Economics’ Lack of Interest in Gender Proves: the “Dismal Science” Really Is Dismal

Economists are still in the dark about the role of gender. For economics to be credible, we have to recognize that our knowledge is...

Standard Oil and Antitrust: the Effects of Aaron Director's Socratic Method

Aaron Director, who died 15 years ago, made important contributions to the analysis of business practices. None were ever published under his name. Professor...

Call for Papers: Academic Lobbying

Ahead of our fourth annual Theory of the Firm conference, we are soliciting papers dedicated to the topic of academic lobbying.     Three years ago,...

The Limits of Private Action: What the Past 40 Years Taught Us About the Perils of Unregulated Markets

The two big ideas that animated American public policy since the end of World War II, employer-sponsored social benefits and neoliberalism, are failures. We...

The Elephant in the Market Power Debate

Profits are the ultimate sign of market power. But for the past 40 years, economists and antitrust practitioners have disparaged the measurement of profit...

Why the FTC Should Focus on Labor Monopsony

Economic theory tells us that firms are more likely to exploit labor market power than product market power in the United States today. And...

Marx and Modern Microeconomics

Few economists doubt that Marx flunked economics, a judgement mostly based on his labor theory of value. But this column argues that Marx’s representation...

Top5itis: The Disease that Affects Economics

Top5itis is a disease that currently affects the economics discipline. It refers to the obsession of the profession of academic economists with the so-called...

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...