Amid the longest government shutdown in US history, and with no light at the end of the tunnel, the latest Financial Trust Index (FTI) survey shows decreasing trust in government, especially among Democrats.
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The Elephant in the Market Power Debate
Profits are the ultimate sign of market power. But for the past 40 years, economists and antitrust practitioners have disparaged the measurement of profit margins as unreliable. That needs to change, and new scholarship showing rising margins across the economy is leading the way.
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Making Your Vote Count: Does the Voting Behavior of Asset Managers Truly Reflect Their Clients’ Interests?
In the past five years, thanks to growing public pressure, there has been increased attention on the voting behavior of asset managers. As a result, change is already taking place.
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Paging Don Qixote: The Last Hope for American Merger Law
Of the eight or nine hundred antitrust claims each year, few are private merger claims, and almost all of them fail. That is why the case of Steves & Sons, a rare private merger challenge decided by a federal court in Virginia last year, holds larger significance for the future of US antitrust enforcement.
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Announcing the Participants in the 2019 Stigler Center Journalist in Residence Program
In March, the Stigler Center will welcome eight world-class journalists from France, Australia, India, China, Italy, Uganda, and the United States for an intensive 12-week program of professional development at Chicago Booth.
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The Greatest Anticompetitive Threat of Our Time: Fixing the Horizontal Shareholding Problem
Undisputed empirical studies confirm that horizontal shareholding poses a great anticompetitive threat. What can antitrust enforcers do about it? Quite a lot, in fact.
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“It’s Crucial to Break Up Facebook”
Columbia law professor Tim Wu on The Curse of Bigness, neo-Brandeisian antitrust, and the lessons we should learn from the first Gilded Age.
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Why Local Labor Market Concentration Is Lower Than It Used to Be, Even As National Concentration Increases
A new study compares the trends in national and local industrial concentration between 1976 and 2015, and explains why they diverged.
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Facebook, Extreme Inequality, and Globalization: ProMarket’s Top Stories of 2018
As 2018 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year.
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The Solution to the Auditing Industry’s Oligopoly Problem? More Competition
The UK’s reviews of the Big Four auditing firms have largely adopted an approach of more regulation and government oversight. This approach is not an unnatural response in the face of the evidence against the audit industry, but the industry’s political power over regulators, and its clout over academics, have to be reckoned with.
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“Short Sellers Don’t Exist to Fix the Problems. They Exist to Shed Light on the Problems”
In an interview with ProMarket, Fahmi Quadir, the short seller whose bet against Valeant in 2015 helped expose the company’s misdeeds, talks about short selling and its role in exposing corporate fraud.
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The Generic Pharmaceutical Market Needs Competition. Non-Profits Can Provide It
JustMedicine is a non-profit that aims to introduce competition into the generic drug market by sponsoring generic entrants. The organization’s CEO explains why non-profit generic drug manufacturers can generate billions of dollars in savings for US consumers.
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