Measured antitrust enforcement and a more comprehensive regulatory regime can ensure that we continue to benefit from digital markets. In attempting to increase competitiveness, however, enforcers will have to first overcome hostile antitrust jurisprudence and lengthy procedures.  After years of timid enforcement against powerful online platforms, and silence from Congress, we are witnessing the awakening of antitrust in the United States. At last, antitrust enforcers have accepted that digital...

RESEARCH

COMMENTARIES

Friedman’s Legacy: From Doctrine to Theorem

Friedman was more right than his detractors claim and more wrong than...

PODCAST

A New Capitalisn’t Episode

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READING LIST

Social Distancing Laws Cause Only Small Losses of Economic Activity: Scandinavian Countries as a Case Study

A new study compares the economic performance of Sweden, which avoided a government-mandated shutdown and allowed businesses to operate freely during the...

The Persuasive Effect of Fox News: How Increases in Fox News Viewership Reduced Compliance With Social Distancing Guidelines

Using zip-code level data on Fox News viewership and individual cellphone movement data, a recent study finds that increasing the local viewership...

Tailoring Lockdowns for Developing Countries

The Covid-19 pandemic has decimated livelihoods in developing nations, and coronavirus-related deaths are rising in Africa and South Asia at an alarming...

Lifting Lockdown Measures Won’t Bring Back Lost Jobs, New Study Suggests

A new paper examines data on local outbreaks in South Korea and finds that even in the absence of lockdowns, an increase...

READING LIST

In the aftermath of the brutal murder of George Floyd at the hands of white police officers in Minneapolis and the ensuing global outrage, an unprecedented focus on the causes of police violence and misconduct has emerged. Should the police be “defunded,” as many protesters demand, or should US law enforcement reformed in other ways? ProMarket investigates.

Police Stops of Black Drivers Increase Following Trump Rallies, New Study Suggests 

A new study looks into how Trump's 2016 presidential campaign affected police behavior toward Black Americans and finds that the probability that...

Prison Labor Can Create Perverse Incentives for Incarceration and Reduce Trust in Legal Institutions

Government proponents of prison labor should be mindful of the potential for negative effects, including increased incarceration rates and citizens’ deteriorating views...

Few Bad Apples? New Study Finds That 40 Percent of Officers in a Large Police Force Are Discriminatory

A new paper seeks to examine whether police misbehavior is concentrated or diffuse by identifying whether highway patrol officers in Florida are...

What is the Connection Between Collective Bargaining and Police Officer Misconduct? Evidence from Florida

A working paper finds that after sheriffs’ deputies in Florida were allowed to unionize, violent incidents increased by 40 percent.

The United States: An Exceptional Case? A Webinar With Stephen Haber, Richard R. John, and Luigi Zingales

Many see the US as a land where free markets and antitrust enforcement have historically kept monopolies under control. But is that really the case?  Watch a conversation between Stanford University professor Stephen Haber, Columbia University professor Richard R. John, and Luigi Zingales. The Stigler Center’s Monopolies and Politics Workshop Webinar Series explores the interconnection between monopolies and politics, and the historical evidence of monopolies capturing national governments and...

The Economic and Social Implications of Racial Disparities: A Webinar With Lisa Cook

Michigan State University professor Lisa Cook joined Princeton’s Bendheim Center for Finance to discuss how violence impacts innovation, as well as the economic and societal fissures exposed by Covid-19.  On...

Covid-19 and Amazon’s Future: a Webinar With Stacy Mitchell, Steven Kaplan, and Jacob Schlesinger

As part of the Stigler Center’s Political Economy of Covid-19 Series of online programming, which explores the economic and political implications of Covid-19 with leading academics and experts, we recently hosted a conversation between Stacy Mitchell, co-director...

What Comes After Trickle-Down Trade Liberalization?

The United States needs to rethink its trade policy. A new report offers a blueprint, consisting of ten major reforms. US trade policy is at...

COLUMNS

Bethany McLean’s Weekend Reading List: Insider Trading, Central Banking, and the Fall of the CDC

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

Bethany McLean’s Weekend Reading List: Friedman, 50 Years Later Edition

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.

Bethany McLean’s Weekend Reading List: Inequality, Remote Learning and the First Female Recession

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.

Bethany McLean’s Weekend Reading List: Stocks, Stakeholders, and Fracking

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

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LATEST

“Amazon Is Getting Richer by the Moment —But There’s a Limit to How Many People Jeff Bezos Can Buy”

In an interview with ProMarket, Barry Lynn discusses the current state of American antimonopoly, what the Covid-19 crisis has taught us about...

Politics, Inconsistent Economic Policies, Destructive Dissatisfaction: The Roots of Hong Kong’s Malaise

In 2019, proposed amendments to the Extradition Bill triggered social unrest that has lasted for more than a year. Moving forward, Hong...

To Make a Difference, Businesses Must Have a Stake in Social Missions

Despite their promises to change the world for the better and remedy social ills, the truth is that corporations are rarely designed...

Government Regulation is the Pro-Market Solution

The Covid-19 pandemic has utterly discredited the false dichotomy of government vs. markets. Extensive government regulation is a prerequisite for the proper...

Effective Enforcement Matters More Than New Rules in the EU’s Efforts to Regulate Gatekeeping Platforms

While the EU’s new Platform-to-Business Regulation went into effect on July 12, the European Commission is already gearing up to introduce two...

ICIJ’s FinCEN Files Expose How Banks Turn a Blind Eye to Suspicious Transactions

A 16-months long investigation identified more than $2 trillion in transactions that were flagged as possible money laundering or other criminal activity....

The Purpose of Business is to Solve Problems of Society, Not to Cause Them

Claims that a stakeholder-focused system of corporate governance cannot succeed in the US are perverse because they take as given that corporations...

The Roots of Congress’ Pathbreaking Report on Big Tech

While the House Judiciary report is chock-full of impressive “gotcha” moments concerning anticompetitive conduct by tech platforms, the real bombshell is the...

ALSO READ

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

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

Who Is to Blame for the 2008 Financial Crisis?

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

Friedman’s Principle, 50 Years Later

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

Should We Defund the Police? A New Capitalisn’t Reading List

In this episode of the Capitalisn't podcast, Kate and Luigi take an economist's look at the concept of defunding the police.

Why Economic Predictions Are Useless Right Now

The Covid-19 crisis is unprecedented in its global scope and open-ended, uncontrollable progress. By their very nature, the models that economists often...

How Political Conflict Shapes Macroeconomics: Alberto Alesina’s Intellectual Legacy

One of the most respected economists of his generation, Harvard professor Alberto Alesina suddenly died at 63. His friend and colleague Guido...

“50 Years Later, It’s Time to Reassess”: Raghuram Rajan on Milton Friedman and Maximizing Shareholder Value

The biggest problem with shareholder value maximization is that it completely turns a tin ear to politics. The alternative is to maximize...