George Stigler

Looks Can Be Deceiving: Ronald Coase and the Chicago School

Ronald Coase is typically thought of as one of the Chicago School’s brightest lights. But Coase’s relationship with Chicago was always an...

The Metaphysics of Regulatory Capture

Stiglerian capture and corrosive cultural capture, its left-leaning parallel, are ostensibly symbionts, two attempts at identifying impediments to keeping markets competitive by...

Assessing George Stigler’s Economic Theory of Regulation

Despite its flaws and limitations, Stigler’s seminal article on the theory of economic regulation remains an important piece of scholarship worthy of...

The Many Faces of Stigler’s Theory of Economic Regulation: Interest Group Politics Still Thrives—But Industry Often Comes Second

Stigler treats industry groups as the heavyweights in regulatory contests. But surprisingly often groups of farmers and workers knock them for a...

George Stigler’s Errors and Their Virtues

George Stigler might have been wrong in his essay on economic regulation, but his influence is undeniable. The unity of purpose in...

George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

George Stigler and the Challenge of Democracy

We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance...

Let’s Not Forget George Stigler’s Lessons about Regulatory Capture

George Stigler’s theory of economic regulation opened our eyes to the rent-seeking that undermines the public interest. Yet many in positions to...

George Stigler’s Paper on Regulation and the Rise of Political Economy

George Stigler’s “The Theory of Economic Regulation” is not just the founding paper of economics of regulation. It is also a founding...

Stigler’s Interest-Group Theory of Regulation: A Skeptical Note

As a rule, regulation is not acquired by “the industry,” and it is not designed and operated primarily for its benefit. The...

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LATEST NEWS

News

Delaware: The State Where Companies Can Vote

Hal Weitzman

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

Antitrust and Competition

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Ted Tatos

Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...

Corporate Governance

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?

Lucian Bebchuk, Roberto Tallarita

In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...

Inequality

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

Belinda Archibong

New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...

Antitrust and Competition

Mergers and Smoking Guns

Erik Peinert

A recently uncovered memo from George Stigler and Richard Posner reveals how they thought about antitrust and merger policy in advising the...