interview
Piketty on the Covid-19 Crisis: “It Is High Time to Use This Opportunity to Counter the Dominant Ideology and Significantly Reduce Inequality”
In an interview with ProMarket, Thomas Piketty speaks about his new book, the role of ideology as a driver of inequality, and...
“Democracy Is Influenced by Lobbyists, That’s Why the People Also Need Someone to Lobby for Them”
“Individuals usually don’t have enough incentive to take action, even though it is clear they will be collectively better off by taking action.” In...
“The Way Insurance Companies Have Rigged Our Health Care System, They’re Probably Going to Emerge as Financial Winners from This”
Author and former health insurance executive Wendell Potter explains to ProMarket why the employer-based health care system in the US is “collapsing” and why health...
“We Were Naïve,” Says FCC Chair Who Oversaw the Creation of Section 230
In an interview with ProMarket, former FCC chair Reed Hundt spoke about antitrust, Big Tech platforms, the future of the 1996 provision that provided legal protection...
Emmanuel Saez: Saying Inequality Has Not Increased in the US "the Equivalent of Being a Climate Change Denier”
In an interview with ProMarket ahead of his upcoming Stigler Center visit this week, UC Berkeley economist Emmanuel Saez discussed the impact of the...
“The Question Is Whether We Live in a Democracy or a Corporate State”
In an interview with ProMarket, Goliath author Matt Stoller discusses the political choices that led to the downfall of the American antimonopoly movement and the “addiction to...
"The Lack of Competition Has Deprived American Workers of $1.25 Trillion of Income"
French economist Thomas Philippon, author of the recent The Great Reversal, explains how Europe got to be better at free markets than the US and how...
“Avoiding Plutocracy Would Require a Political Change”: Branko Milanovic on the Future of Capitalism
In an interview with ProMarket, CUNY Graduate Center economist Branko Milanovic discussed the differences and similarities between US-style and China-style capitalism and explained why,...
“Economics Now Points Away From the Laissez-Faire Approach”
Columbia professor Suresh Naidu on Economics for Inclusive Prosperity, the new initiative he launched with Dani Rodrik and Gabriel Zucman, and why he believes...
“Emmanuel Macron Is Not a Liberal, He Just Pretends to Be”
The French president found himself under fire following an attempted police raid on the offices of the investigative news site Mediapart. While many around...
LATEST NEWS
Antitrust and Competition
Merged Firms Offer Less Product Variety
In new research, Enghin Atalay, Alan Sorensen, Christopher Sullivan, and Wanjia Zhu find that mergers and acquisitions often lead to the merged firm offering less product variety than when the two firms operated pre-merger.
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.