Top Articles - ProMarket

The Complicated Legacy of the “Chicago Boys” in Chile

Economic History Daniel Matamala

How did a group of Chicago-trained economists manage to turn Chile into the cradle of neoliberalism? As the country aims to move away from...

Who Is to Blame for the 2008 Financial Crisis?

Regulatory Capture Luigi Zingales

The IGM Center at the University of Chicago has asked its American and European economist panel to rate the main causes of the financial...

Meet the Sugar Barons Who Used Both Sides of American Politics to Get Billions in Subsidies

Regulatory Capture Guy Rolnik

Meet the Florida-based Fanjul brothers, who inject money to both political parties and dominate an industry that enjoys billions of dollar's worth of subsidies and protections. Last week,...

The Real Dish on the T-Mobile/Sprint Merger: A Disastrous Deal From the Start

Antitrust and Competition Melody Wang and Fiona Scott Morton

The Trump-era DOJ’s decision to allow the T-Mobile/Sprint merger will go down as one of the worst merger-enforcement mistakes in decades. This merger will...

The Paramount Decrees and the Deregulation of Hollywood Studios

Antitrust and Competition G. Vaughn Joy

A landmark antitrust decision on Hollywood will sunset this year, paving the way for more major studios to overpower independent producers and exhibitors. A...

The Cantillon Effect: Why Wall Street Gets a Bailout and You Don’t

Antitrust and Competition Matt Stoller

According to the 18th-century French banker and philosopher Richard Cantillon, who benefits when the state prints money is based on its institutional setup. In...

What Stakeholder Capitalism Can Learn From Milton Friedman

News Alex Edmans

Instead of ridiculing the Friedman doctrine and proclaiming its death, advocates of stakeholder capitalism and responsible investing, like me, can learn a lot from...

Nobel Laureate Eugene Fama Predicts Bitcoin Will Become Worthless

Interviews ProMarket writers

Nobel Prize-winning economist Eugene Fama argues that Bitcoin is fundamentally flawed and predicts it has a near-certain chance of becoming worthless within a decade....

The Social Responsibility of Business Includes Profits

ESG, Corporate Governance & Future of the Firm Alex Edmans

Profits these days are often seen as a dirty word, but it is wrong to demonize profits. A company’s responsibility is not to sacrifice...

The Best Political Economy Books of 2021

Antitrust and Competition Asher Schechter

A scholarly examination of market’s power toll on American workers, the collected works of a pioneering economic thinker, an ambitious narrative of US economic...

Congress Is Leaning Towards a Big Tech Breakup

Antitrust and Competition Hal Singer

The dominant platforms have proven themselves to be ungovernable. Behavioral remedies, especially those that require continuous oversight, might be pushed aside. The only issue...

What Economists Mean When They Say “Consumer Welfare Standard”

Antitrust and Competition Leah Samuel and Fiona Scott Morton

Though coined by academic economists, the term “consumer welfare standard” has been captured and changed by the economic school of thought known as the...

Study: Politicians Vote Against the Will of Their Constituents 35 Percent of the Time

Regulatory Capture Asher Schechter

New Stigler Center working paper: “To the extent that legislators represent majority opinion, it happens largely because legislators share the opinions of their constituents,...

Tech Monopolies Are the Reason the US Now Has a TikTok Problem

Antitrust and Competition Lucas Kunce

Tech platforms like Facebook say we should protect, empower, and celebrate their concentrated power for the sake of America’s national security. But their history...

The Most Famous Article on the Theory of the Firm is Widely Misunderstood

Economic History Brian Cheffins

Michael Jensen and William Meckling’s famous 1976 Journal of Financial Economics article has been cited nearly 100,000 times and is often regarded as a...

Donald Trump’s Authoritarian Playbook Is Based on Failures of US Corporate Democracy, not Foreign Dictators

Democracy Sarah C. Haan

Sarah Haan writes that to understand American authoritarianism, it’s less useful to analyze the strategies of elected dictators around the globe than to look at how corporate leaders in the United States have rigged corporate democracy.

Seize the Means of Computation

Antitrust and Competition Cory Doctorow

To regain internet autonomy from Big Tech companies, lower switching costs with legislation that allows new services to subvert network effects and encourage adversarial...

Google and Facebook’s “Kill Zone”: “We've Taken the Focus Off of Rewarding Genius and Innovation to Rewarding Capital and Scale”

Antitrust and Competition Asher Schechter

A Stigler Center panel explores the implications of tech giants’ dominance on innovation and startups. Earlier this week, Treasury Secretary Steven Mnuchin joined a growing...

Biden Embraces Buy America, Doubles Down on Trade Protection

Industrial Policy Gary Clyde Hufbauer and Megan Hogan

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

eBook: Milton Friedman 50 Years Later, a Reevaluation

Commentary ProMarket writers

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

Friedman’s Principle, 50 Years Later

Luigi Zingales

In the mid-1980s, Milton Friedman’s view that the only social responsibility of business is to increase its profits became dominant in business and academia....

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