Markets

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...

Invigorating Competition in Health Care Markets: Is Rate Regulation Needed?

It now appears that market concentration may be the leading cause of America’s health care cost crisis. If the United States is...

Rethinking Competition: From Market Failures to Ecosystem Failures

Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited....

A Simple Way to Measure Tipping in Digital Markets

Digital markets are prone to “tipping.” Policymakers are starting to look at tipping as a market failure worthy of consideration. But as...

The Texas Power Failure: How One Market Model Discovered Its Natural Limits

Relying on marginal market prices to provide the incentives for the production and delivery of electricity means that all of the biophysical...

The Texas Blackouts and the Problems of Electricity Market Design

Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are...

Insider Trading Data Reveals Pandemic Is a Time for Questioning, Not Answering

Following news reports about executives selling shares in their corporations to avoid losses due to the pandemic, a new study takes a...

A New Capitalisn’t Episode: a Coronavirus Reading List

In this episode, Kate and Luigi give an economist's view of the coronavirus outbreak: How should we think about the economic trade-offs of interventionist...

The Secret Code of Capital and the Origin of Wealth Inequality

Capital is not a thing, but a social relation enforced by the law and the state. With the right legal coding, any object, claim,...

The Problem With Unicorns: Why Investors Stopped WeWork From Going Public

More and more startups are valued at over $1 billion, even if they have dysfunctional corporate structures and hazardous business models. For tech companies,...

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...