Globalization
Globalization’s Uneven Impact on Women’s Occupational Attainment
The literature on globalization’s impact on women’s workforce participation generally takes a positive outlook but still produces mixed results. In their research,...
The Corporate Power Narrative: How Corporations Benefit from Economic Globalization
In an excerpt from their new book, Six Faces of Globalization: Who Wins, Who Loses, and Why It Matters, Anthea Roberts and...
Debt Monetization and Lessons from War Financing to Deal With Pandemics: A Webinar With Harold James
Princeton professors Markus Brunnermeier and historian Harold James discuss how much new debt governments will pile up in reaction to the Covid-19 economic fallout....
Global Supply Chain Disruptions: A Webinar With Penny Goldberg, Former Chief Economist of the World Bank
Princeton professor Markus Brunnermeier and Yale professor Penny Goldberg, former chief economist of the World Bank, discuss the impact of Covid-19 on international trade and...
A New Capitalisn’t Episode, Featuring Paul Krugman: A Reading List
On this episode, Kate and Luigi talk with Nobel Prize-winning economist Paul Krugman about his new book Arguing with Zombies: Economics, Politics, and the...
Why Coronavirus Triggered the First Global Supply-Chain Crisis
The only reason why there is no shortage of goods in American markets is that the epidemic outbreak was close to the Chinese New...
Why There Is No “Crisis of Capitalism”
Western dissatisfaction with globalization is wrongly diagnosed as dissatisfaction with capitalism, when in fact it is the product of the uneven distribution of the...
With the US and China, Two Types of Capitalism Are Competing With Each Other
Capitalism’s global victory has been achieved through two different types of capitalist systems: the liberal meritocratic capitalism that has developed incrementally in the West,...
How Offshoring by Multinational Corporations Contributed to the Decline of US Manufacturing
The offshoring activities of multinational firms explain about one-third of the aggregate decline in US manufacturing employment, according to a new study.
Between 1990 and...
The Real “China Shock”: Political Fallout from Slowing Exports in China
As China’s export growth has slowed down over the past five years, workers have responded by taking to the streets with increasing frequency. The...
LATEST NEWS
Antitrust and Competition
Revising Guideline 6 With Evidence To Establish a Structural Inference for Input Foreclosure
Vertical merger law lacks the structural presumption of horizontal merger law, which shifts the burden from the government to the merging parties to provide evidence that a merger will not produce anticompetitive effects when it is known that the merger will substantially increase market concentration. To improve Guideline 6 of the draft Merger Guidelines concerning vertical foreclosure, Steven Salop develops a three-factor criteria with which the government antitrust agencies can show an analogous structural “inference” that shifts the burden of evidence to the merging parties.
Antitrust and Competition
How US Antitrust Enforcement Against Xerox Promoted Innovation by Japanese Competitors
Xerox invented modern copier technology and was so successful that its brand name became a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and eventually ordered the licensing of all its copier-related patents. As new research by Robin Mamrak shows, this antitrust intervention promoted subsequent innovation in the copier industry, but only among Japanese competitors. Nevertheless, their innovations benefited U.S. consumers.
Antitrust and Competition
Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation
The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.
Economic History
How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism
In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.
Antitrust and Competition
The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect
In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà-Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.
