Thomas Piketty

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 Rate of Return on Everything

A new paper purports to have finally unlocked the mystery of the rate of return on capital. Here the authors report on their research on...

Who Are the Top 1 Percent in America? The Answer from New Research Might Surprise You

A new paper challenges Thomas Piketty’s portrayal of an income distribution dominated at the top by passive rentiers who do nothing to earn their money,...

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News

Fear of Punishment Distorts Bank Financial Reporting

Hamid Mehran

When bank employees are afraid of punishment from regulators, they are likely to conceal information about their faulty decisions. This in turn...

Antitrust and Competition

Should The Competitive Process Test Replace The Consumer Welfare Standard?

Einer Elhauge

Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...

News

Delaware: The State Where Companies Can Vote

Hal Weitzman

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

Antitrust and Competition

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Ted Tatos

Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...

Corporate Governance

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?

Lucian Bebchuk, Roberto Tallarita

In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...