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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Antitrust and Competition

Antitrust Enforcement Is Not Enough to Address Anticompetitive Conduct in Pharmaceutical Markets. Market-Oriented Legal Reform is Needed.

Alden Abbott
Federal antitrust enforcement has been robust and effective in promoting prescription drug market competition and thereby enhancing consumer welfare. Antitrust enforcement in itself, however,...
Antitrust and Competition

Competition Problems in Prescription Drug Market

Michael Kades
Although not the sole cause of high prescription drug costs, abusive practices that distort competition contribute to the problem. Too many companies exclude competition...
Antitrust and Competition

The Profit Paradox: A New Approach to Competition and Market Power

Simcha Barkai
Jan Eeckhout’s recent book The Profit Paradox is a serious attempt to explain rising market power and its implications to a wider audience. While...
Antitrust and Competition

The Unchecked Market Power of the American Health Care System

David Ennis
Chicago Booth alumnus and retired health care consultant David W. Ennis responds to ProMarket’s recent coverage on antitrust and the US health care system....
Commentary

Why Corporate Purpose is Important to the Recovery From the Pandemic

Martin Lipton
A new initiative seeks to encourage directors, managers, asset owners, and other internal and external stakeholders to collaborate on articulating an actional principle of...
Commentary

Unsettled: What is the Economic Impact of Climate Change?

Steven Koonin
In his book Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters, Steven Koonin explores misconceptions and shortcomings in the media's...
Antitrust and Competition

Big Tech’s Tightening Grip On Internet Speech

Gregory M. Dickinson
Social media platforms have so transformed American life that many now view online speech as a right of citizenship—a right to be protected against...
Antitrust and Competition

Why Privacy Experts Need a Place at the Antitrust Table

Cristina Caffarra
Antitrust enforcers have tended to stay narrowly “in their lane,” failing to engage with how data is collected and used by digital giants and...
Commentary

The Many Faces of Stigler’s Theory of Economic Regulation: Interest Group Politics Still Thrives—But Industry Often Comes Second

Richard Epstein
Stigler treats industry groups as the heavyweights in regulatory contests. But surprisingly often groups of farmers and workers knock them for a loop in...
Antitrust and Competition

In FTC vs. Facebook, the Government Lost the First Round. It Could Still Win the Fight.

John Newman
Despite some compelling allegations, a federal judge dismissed the FTC's antitrust complaint against Facebook due to the agency’s failure to explain how it calculated...
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.