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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

Little Law and No New Regulator: What’s Missing in the House Antitrust Report

Neil Chilson
The House Antitrust report spans 449 pages, 30 of which contain recommendations for antitrust reform. However, one of the most telling aspects of the...
Commentary

The Death of Hong Kong’s Rule of Law

Benny Tai
Hong Kong's rule of law has suffered a fatal blow. With the national security law, the authoritarian regime has all that it needs to...
Commentary

eBook: Milton Friedman 50 Years Later, a Reevaluation

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...
Commentary

Bethany McLean’s Weekend Reading List: Wirecard, Women in the Workplace, and Social Safety Nets

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.  We tend to think progress on social issues...
Commentary

Beijing’s Erosion of Hong Kong’s Freedoms Has Been in the Works for Years

Victoria Tin-bor Hui
The wilting of civil and political freedoms in Hong Kong took a dramatic downturn since July after Beijing imposed its national security law. While...
Commentary

Friedman’s Legacy: From Doctrine to Theorem

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

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....
Commentary

Should Whistleblower Reward Laws be Capped?

Stephen M. Kohn
The SEC is expected to approve a proposed rule change that could limit the amount of awards paid to whistleblowers, despite evidence that shows...
Commentary

Emmanuel Farhi, Economist and Renaissance Man

Matteo Maggiori
Matteo Maggiori eulogizes Harvard economist Emmanuel Farhi, who passed away last month at the age of 41. Emmanuel Farhi, one of the great minds...
Commentary

Bethany McLean’s Weekend Reading List: Big Tech, Hospital Bills, and the Lost “Covid Generation”

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.  The headline of this piece says it all:  For...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.