Milton Friedman

When Milton Friedman Sided With Keynes Over Hayek on Inflation

In an excerpt from his book Samuelson Friedman: The Battle Over the Free Market, Nicholas Wapshott explores the disagreements between Friedman and...

George Stigler and the Challenge of Democracy

We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance...

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...

Covid-19, TikTok, and Milton Friedman: ProMarket’s Top Stories of 2020

As 2020 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year.

eBook: Milton Friedman 50 Years Later, a Reevaluation

Over the past couple of months, ProMarket has hosted a lively debate on whether Milton Friedman was right or wrong when he...

Friedman’s Legacy: From Doctrine to Theorem

Friedman was more right than his detractors claim and more wrong than his supporters would like us to believe. However, after 50...

The Purpose of Business is to Solve Problems of Society, Not to Cause Them

Claims that a stakeholder-focused system of corporate governance cannot succeed in the US are perverse because they take as given that corporations...

Milton Friedman and the Need for Justice

Milton Friedman predicated his shareholder value maximization credo on the strong implicit and explicit assumptions that the rules of society protect stakeholders...

There Is a Direct Line from Milton Friedman to Donald Trump’s Assault on Democracy

Milton Friedman believed that corporations have a social responsibility to play within the rules of the game. But corporations aren’t just players...

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LATEST NEWS

Fiscal Policy

More than Economics, Ideology Determines US Voters’ Preferences for Redistribution

Gustavo de Souza

The US stands out among developed economies for its comparatively low level of redistribution as a percentage of GDP. Gustavo de Souza...

Research

Stakeholder Motivations for “Private Sanctions” Against Russia

Utsav Gandhi

As the war in Ukraine enters its second year, a new study measures stakeholders’ desire to see their firms exit Russia and...

Big Tech

The Wicked Problem Embodied by The Twitter Files

Tom Ginsburg

In response to a recent ProMarket post about the Twitter Files, professor Tom Ginsburg points out that the toughest question lies in...

News

Study Shows Universal Bank Trades Are Informed by Private Commercial Borrower Information

Will Macheel

New research by Rainer Haselmann, Christian Leuz, and Sebastian Schreiber finds evidence suggesting that German banks with commercial lending relationships improve their...

News

Industrial Policy Is a Seductive Mirage

Michael C. Munger

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...