History

How Sadie Alexander, the First Black Economics PhD, Became a Voice for Black Workers

A whole century has passed since Sadie Alexander became the first African American to receive a PhD in economics in the United...

Henry Simons’s Positive Program for Laissez-Faire

The 1930s were a difficult time for classical liberals. In response to the Great Depression, the federal government undertook a massive expansion...

How Protests Against the Jim Crow Credit Market Changed the Civil Rights Movement

Before the civil rights movement captured the nation’s attention, activists and community groups were protesting against exploitative credit and exclusionary lending practices...

How a Wave of Corporate Takeovers Ushered In the Gospel of Shareholder Value

In an excerpt from his new book, Ages of American Capitalism, economic historian Jonathan Levy explains how "financiers blew up the postwar...

Iowa’s “Butter-Margarine War”: T. W. Schultz’s Fight for Academic Freedom

During the Second World War, economists at Iowa State College published a pamphlet titled “Putting Dairying on a War Footing,” which would...

James M. Buchanan Trusted Market Mechanisms Because He Trusted Individuals

James Buchanan, one of the most influential economists of the twentieth century, believed that individuals were able to voluntarily devise private and...

What Stakeholder Capitalism Can Learn From Jensen and Meckling

Jensen and Meckling’s 1976 article is an academic classic, but heavily criticized by stakeholder capitalists for arguing that corporate structures should be...

An Unusual History: A Conversation Between Two Economists About the Economics Department at the University of Chicago

In conversation with Sebastian Edwards, Arnold C. Harberger reflects on his time at the Department of Economics at the University of Chicago.

Why We Need To Re-think Friedman’s Ideas About Monopolies

Friedman’s New York Times Magazine article on the social purpose of business was a specific intervention in the debate over shareholder activism...

Are Intellectual Property Rights Neoliberal? Yes and No

Today’s global IP regime is often described by critical scholars bluntly as “neoliberal.” But in fact, the topic of intellectual property rights...

LATEST NEWS

Should the European Union Require Tech Firms to Adopt a Common Charger?

According to a new European Commission directive expected to be approved in the next few months, tech firms will have to use...

Chart of the Week: Economists Don’t Think Congress Should Make Price Gouging Illegal

Most economists disagree with a new bill in the US that would set limits on "unconscionably excessive prices," according to a recent...

Neoliberal Economists Are Giving Biden Bad Advice on Inflation

To spare the economy from the pain of further interest rate hikes, the President should aggressively pursue anticompetitive conduct by companies in...

How Would the Big Tech Self-Preferencing Bill Affect Users? 

The Senate looks to be nearing a vote on the American Innovation and Choice Online Act, which would prohibit gatekeeping digital platforms...

New eBook Revisits George Stigler’s Theory of Regulatory Capture 50 Years Later

To mark the 50-year anniversary of George Stigler’s seminal piece, “The Theory of Economic Regulation” we are publishing a new eBook examining...