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John G. Matsusaka

John G. Matsusaka is the Charles F. Sexton Chair in American Enterprise at the University of Southern California (Marshall School of Business, Gould School of Law, and Department of Political Science), and author of Let the People Rule: How Direct Democracy Can Meet the Populist Challenge (2020).
Friedman 50 Years Later

A Challenge for Stakeholder Capitalism: Solving the Paradoxes of Voting

If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.
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Commentary

How to Get Police Reform Done? Use Direct Democracy

Instead of just imploring their representatives to fix things, Americans can use the tools of direct democracy to take charge and promote...
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Corporate Governance

Turning Corporations into Democracies

The problem with encouraging firms to maximize shareholder welfare is how to prevent managers and special interests from diverting corporate resources in the name of shareholder...
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Corporate Governance

Does Empowering Shareholders Also Empower Special Interests?

The merits of increasing shareholder power are less obvious than reforms that increase companies' exposure to pressure from activist shareholders, since increasing shareholder power tends to...
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Corporate Governance

Enhancing Competition? The Role of Governance in Increasing Exposure to Competition

Contemporary corporate governance reform has been a mixed bag: reforms that increase a company’s exposure to competition through the control market have been helpful,...
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Latest news

Inequality

Most Americans Consider Themselves Middle-Class. But Are They?

Jeffrey Wenger, Melanie Zaber
There are different ways of determining who should be considered middle-class. But there is one thing they have in common: all reveal...
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Antitrust and Competition

Barriers to Entry as Another Source of Top Income Inequality

Philippe Aghion, Céline Antonin, Simon Bunel
A new book, The Power of Creative Destruction, explores how lobbying contributes to the increase in the top 1 percent’s share of...
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Media

ProMarket Reader Survey: We Want Your Feedback

ProMarket writers
As ProMarket enters its sixth year of operation, we would like to understand what you, our readers, like about it and what...
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Corporate Governance

What Stakeholder Capitalism Can Learn From Jensen and Meckling

Alex Edmans
Jensen and Meckling’s 1976 article is an academic classic, but heavily criticized by stakeholder capitalists for arguing that corporate structures should be...
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Commentary

How Twitter Weakened India’s Information Ecosystem

Prateek Raj
India’s Covid-19 crisis is a reminder that Indian democracy is also in a crisis, partly due to an information ecosystem where facts...
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Antitrust and Competition

Eliminating Baseball’s Antitrust Exemption Won’t End the Georgia Political Boycott

Herbert Hovenkamp
There are good arguments for getting rid of baseball's long-standing exemption from antitrust laws, but the reason cited by Republican Senators angry...
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Antitrust and Competition

Europe Lacks a Vision for How Apple’s App Store Fees Should Work

Randy Picker
The European Commission believes that Apple is violating European competition laws and raising prices for consumers in how it operates its App...
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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.

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