The Stigler Center Dedicates Second Annual Antitrust and Competition Conference to Digital Platforms and Concentration

The invitation-only conference will bring together economists, law scholars, intellectuals, venture capitalists, and businesspeople to debate how to promote competition in a world of...

Are Google and Facebook Monopolies?

Chicago Booth’s Luigi Zingales and George Mason University’s Tyler Cowen discuss the market power wielded by digital platforms, and how to promote competition.         Google and...

Editors’ Briefing: On Our Radar This Week (Nov. 27–Dec. 2)

The stories that most interested us this week.         The Senate approved the Republican tax bill last night following a series of last-minute amendments, paving the way...

Zingales: Too Much Power in the Hands of Big Tech Could Distort American Democracy

Watch comments by Luigi Zingales from the recent AEI Panel  "Should Washington Break Up Big Tech?” The excessive concentration of power in the hands of the...

Editors’ Briefing: On Our Radar This Week (Nov. 3–10)

The stories that most interested us this week.   Following reports that the Justice Department might force AT&T to sell Time Warner’s CNN as a...

Watch: “The Reason We Have Google and Facebook Today Is Because of Antitrust Enforcement Against Microsoft”

In an interview with the Chicago Booth Review, Stigler Center Director Luigi Zingales spoke about the importance of competition.  “Competition is the essence of what makes...

“Google Is as Close to a Natural Monopoly as the Bell System Was in 1956"

Media scholar Jonathan Taplin, author of the new book Move Fast and Break Things, on the rent-seeking and regulatory capture of digital platforms. In 2014,...


Uninhibited Campaign Donations Risks Creating Oligarchy

In new research, Valentino Larcinese and Alberto Parmigiani find that the 1986 Reagan tax cuts led to greater campaign spending from wealthy individuals, who benefited the most from this policy. The authors argue that a very permissive system of political finance, combined with the erosion of tax progressivity, created the conditions for the mutual reinforcement of economic and political disparities. The result was an inequality spiral hardly compatible with democratic ideals.

Did the Meme Stock Revolution Actually Change Anything?

Many financial commentators thought that the surge of retail investors participating in the stock market, the most notable of whom boosted “meme stocks” like GameStop, would democratize corporate governance and improve prosocial firm behavior, including the promotion of environmental, social, and governance (ESG) goals. In new research, Dhruv Aggarwal, Albert H. Choi, and Yoon-Ho Alex Lee find evidence that the exact opposite took place.

The Kroger-Albertsons Merger Will Not Help Grocery Competition

Kroger and Albertsons say they need to merge to compete with Walmart. Claire Kelloway argues that what they really want is Walmart’s monopsony power, and permitting mergers on these grounds will only harm suppliers, workers, and consumers.

Innovators Respond to Their Presidential Candidate Winning With More Innovation

Does an inventor’s political identity influence their productivity? In a new paper, Joseph Engelberg, Runjing Lu, William Mullins, and Richard Townsend examine the impacts of the 2008 and 2016 United States presidential elections on Democrat and Republican inventors, with a particular focus on the quantity and quality of patents after the country elects a new president.

Letter to the Editor: Former FTC and DOJ Chief Economists Urge Separation of Economic and Legal Analysis in Merger Guidelines

Seventeen former chief economists of the Federal Trade Commission and the Department of Justice Antitrust Division urge current Agency heads to separate the legal and economic analysis in the draft Merger Guidelines to strengthen the role of the latter in merger review.