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Theory of the Firm Interview Series: John Van Reenen

The second installment in ProMarket’s new interview series: Should the economic theory of the firm be modified? If so, how? In this installment, we ask MIT’s John Van Reenen. “Since markets in the U.S. and other advanced countries have become increasingly concentrated in the hands of a smaller number of “superstar” firms, the ability of such firms to influence market rules has also strengthened.”

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Interview Series: How Incomplete is the Theory of the Firm? Q&A with Daniel Carpenter

Should the economic theory of the firm be modified? If so, how? In March, the Stigler Center at the University of Chicago Booth School of Business, Harvard Business School, and Oxford University will organize a conference to answer these questions and more. Ahead of the conference, we are launching an interview series with influential scholars in the field. In the first installment, Daniel Carpenter answers our questions: “the profitability and survival prospects of many firms in the coming years will depend heavily, in a polarized environment, on the political skills of managers.”

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Bernard Yeung

“In a System with Dominance, There is Built-In Resistance to Change”: ProMarket Interviews Bernard Yeung, Part 2

In the second part of his interview with ProMarket, Bernard Yeung—one of the economists who laid the foundations of scientific research on economic power concentration—discusses free trade, the connection between wealth and power, and why governments may actually prefer markets controlled by dominant players rather than by many competitors.  

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