Friedman

Neoliberalism Beyond the Heartlands

Much of the historical analysis of neoliberalism, both its ideological roots and its outcomes, has focused on U.S. and Europe, with figures...

Covid-19, TikTok, and Milton Friedman: ProMarket’s Top Stories of 2020

As 2020 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year.

There Is a Direct Line from Milton Friedman to Donald Trump’s Assault on Democracy

Milton Friedman believed that corporations have a social responsibility to play within the rules of the game. But corporations aren’t just players...

Strength in Numbers: Using Data to Track Diversity and Inclusion

Recent protests against racism and police brutality, along with the #MeToo movement, have increased pressure on businesses to measure and improve their...

Shareholder Value and Social Responsibility Are Not At Odds

Being socially responsible can, and frequently does, make good business sense. There are plenty of opportunities for companies to do well by...

Data-Driven Ideology: The Problem With Economists' Takeover of Policymaking

According to New York Times journalist Binyamin Appelbaum's recent book The Economists' Hour, economics is not the unbiased science that it pretends to be, but...

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...

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...

Where Friedman Was Wrong

A new paper by Oliver Hart and Luigi Zingales argues that a company’s objective should be the maximization of shareholders’ welfare, not value.  In 1970,...

LATEST NEWS

The Kroger-Albertsons Merger Threatens Smaller Upstream Suppliers

Much of the conversation of the proposed Kroger-Albertsons merger has focused on the risks to consumers. However, the merger also poses serious implications for the grocers’ upstream suppliers, particularly smaller regional firms.

Why Have Uninsured Depositors Become De Facto Insured?

Due to a change in how the FDIC resolves failed banks, uninsured deposits have become de facto insured. Not only is this dangerous for risk in the banking system, it is not what Congress intends the FDIC to do, writes Michael Ohlrogge.

Merger Law Reaches Acquirer Incentives and Private Equity Strategies

Steven C. Salop argues that Section 7 of the Clayton Act prohibits mergers in which the acquiring firm’s unilateral incentives and business strategy are likely to lessen market competition.

Tim Wu Responds to Letter by Former Agency Chief Economists

Former special assistant to the president for technology and competition policy Tim Wu responds to the November 27 letter signed by former chief economists at the Federal Trade Commission and Justice Department Antitrust Division calling for a separation of the legal and economic analysis in the draft Merger Guidelines.

Can the Public Moderate Social Media?

ProMarket student editor Surya Gowda reviews the arguments made by Paul Gowder in his new book, The Networked Leviathan: For Democratic Platforms.